February 23, 2018 / 5:11 PM / 9 months ago

New U.S. sanctions target virtually all ships North Korea is using: Mnuchin

U.S. Treasury Secretary Steve Mnuchin testifies before a Senate Finance Committee hearing on Fiscal Yeah (FY) 2019 budget on Capitol Hill in Washington, U.S., February 14, 2018. REUTERS/Yuri Gripas

WASHINGTON (Reuters) - New measures to block supplies and money from going to North Korea’s work on developing nuclear arms target virtually all shipping that the country is currently using to evade international restrictions, U.S. Treasury Secretary Steve Mnuchin said on Friday.

Mnuchin told a White House briefing that current economic sanctions are beginning to have a significant impact on North Korea’s weapons programs, and said the new sanctions bring the total penalties on trade with North Korea to 450.

“This is very impactful,” he said. We’re going to do everything to stop these ship-to-ship transfers.”

Reporting by Steve Holland and Doina Chiacu; Writing by Lisa Lambert; Editing by James Dalgleish

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