U.S. mulls North Korea sanctions, targeting cash that flows through Chinese banks

The Trump administration is considering sweeping sanctions aimed at cutting North Korea off from the global financial system as part of a broad review of measures to counter Pyongyang’s nuclear and missile threat, a senior U.S. official said on Monday.

The sanctions would be part of a multi-pronged approach of increased economic and diplomatic pressure – especially on Chinese banks and firms that do the most business with North Korea – plus beefed-up defenses by the United States and its South Korean and Japanese allies, according to the administration official familiar with the deliberations.

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