Washington to isolate Pyongyang from global financial network

The White House officially confirmed President Barack Obama’s commitment to levy sanctions against the Chinese Liaoning Hongxiang Group which exported nuclear materials to North Korea. Unlike the past sanctions, the recent move came as a strong will from Washington in order to produce feasible outcomes by securing cooperation from China on its new sanctions designed by the U.N. Security Council to deter further nuclear provocations from North Korea. In addition, the Obama Administration stated that it is reviewing plans to isolate North Korea from global capital markets transacted in the key currency U.S. dollars by blocking Pyongyang from accessing The Society for Worldwide Interbank Financial Telecommunication (SWIFT).

“I think this is an indication of the president’s commitment to further isolate the North Korean regime and to apply pressure to those entities and individuals and organizations that try to support them,” White House press secretary Josh Earnest said at a regular press briefing on Tuesday.

Meanwhile, when asked whether North Korea will be removed from SWIFT during the Foreign Affairs Committee hearing, U.S. Assistant Secretary of State for East Asian and Pacific Affairs Daniel Russel answered the same day that Washington is currently discussing with relevant nations on higher level of sanctions, including plans to disable Pyongyang from abusing global financial system for its illegal activities.

워싱턴=이승헌 특파원ddr@donga.com