President Donald Trump announced Friday that the US Treasury Department is imposing new sanctions against North Korea specifically targeting the country’s shipping and trading companies and vessels in an effort to further isolate the rogue regime.
Senior administration officials told reporters on Friday that Trump would discuss new sanctions on North Korea during his speech at the Conservative Political Action Conference.
"North Korea, we imposed today the heaviest sanctions ever imposed by our country before. And frankly, hopefully something positive can happen. We will see, but hopefully something positive can happen," Trump said. "That just was announced and I wanted to let you know."
In its latest step to heighten its economic warfare against North Korea, the US government imposed sanctions against 27 entities and 28 vessels either registered or flagged in several countries, including North Korea, China and Singapore.
In a statement on Friday, Treasury Secretary Steven Mnuchin said the US is "aggressively targeting all illicit avenues used by North Korea to evade sanctions, including taking decisive action to block vessels, shipping companies, and entities across the globe that work on North Korea’s behalf."