On North Korea, US President Barack Obama has put on additional sanctions, which are unanimously aimed at choking off the regime’s illicit business and arms trade taken by the government.

Office 39 is a secretive branch of the North Korean government at which the sanctions are specifically targeted as it is involved in trafficking drugs, manages slush funds and raises money for the leadership and infrastructure.

Under Secretary for Terrorism and Financial Intelligence, Stuart Levey, said after Obama issued an executive order, “The order gives the US government new authority to go after the arms sales and goods procurement, money laundering, counterfeiting of currency and other illicit financial activities that enrich the highest echelon of the North Korean government while the North Korean people suffer”.

Its violations of the UN Security Council Resolutions 1718 and 1874 justify the additional sanctions.

He said, “The destructive course that North Korean government is charting is facilitated by a lifeline of cash generated through a range of illicit activities.

North Korea’s government helps maintain its authority by placating privileged elites with money and perks, such as luxury goods like jewellery, yachts and luxury cars”.

Leavy said adding that the North Korean government receives millions of dollars every year from arms sales that are also outlawed by UN Security Council resolutions, “Not only do these transactions contravene UN Security Council Resolution 1718, they are unconscionable in light of the fact that of North Korea’s people live in dire poverty”.

The Treasury official said the financial measures are directed towards disrupting its efforts to engage in illicit activities and its capability to surreptitiously move its money by smuggling cash worldwide and deceiving banks.

He said, “By naming the individual and entities involved in these activities, we will be excluding them from any access to the US financial system, and at the same time we will be assisting responsible businesses and financial institutions around the world that are trying to protect themselves from illicit North Korean activities”.