US blocks North Korea’s access to world financial system

The United States  declared North Korea a “primary money launderer” after  private cybersecurity firms linked Pyongyang  to recent computer attacks that absconded with at least $81 million, the Treasury Department moved to further block Pyongyang to use the U.S..

South Korea on Thursday welcomed a decision by the US to include North Korea in the list of countries which are primarily responsible for money laundering, a move aimed at strengthening sanctions against Pyongyang.

The decision, which seeks to isolate Pyongyang further from the international financial system “reflects the US’s firm commitment to faithfully carry out the UN Security Council’s 2270 resolution and also pursue its own strong sanctions to induce denuclearisation and tangible change”, said the South Korean foreign ministry in a statement.

The South Korean government hoped the measure will block North Korea’s access to the US financial system, EFE news reported.

The inclusion of North Korea in the list of money laundering countries, announced by the US Treasury Department on Wednesday, means a prohibition of indirect links between financial institutions of both countries.

The South Korean ministry also emphasised its commitment to work alongside Washington to continue pressurising North Korea, through sanctions, to change its stance and give up its nuclear weapons programme.s to fund its weapons programs.

The U.S. Treasury Department called for a prohibition on certain U.S. financial institutions opening or maintaining correspondent accounts

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