The sanctions, imposed in response to North Korea’s July ballistic missile tests, now apply to the state-owned Foreign Trade Bank, among others, according to an European Union news release.
“This resolution was adopted on 5 August 2017 in response to the Democratic People’s Republic of Korea (DPRK)’s ongoing nuclear-weapon and ballistic missile-development activities, in violation and flagrant disregard of previous UN Security Council resolutions”, the statement noted. The EU has a policy of critical engagement towards North Korea and its goals are to support a lasting diminution of tensions on the Korean peninsula and uphold the worldwide non-proliferation regime. Pyongyang has promised a “fair response” to the sanctions, without specifying, however, what it will be.
The tit-for-tat war of words began this week after Pyongyang threatened to retaliate against Washington for new United Nations sanctions against the regime.
After intercontinental ballistic missile (ICBM) tests of missiles capable of reaching the USA mainland were carried out by North Korea last week, the United Nations imposed its “most stringent” restrictions so far with the intention of cutting almost $1bn out of the country’s export revenue.
The EU has long trumpeted that its sanctions against the DPRK are “among the most restrictive in operation”, nonetheless, the bloc insisted on solving the Korean Peninsula issue through peaceful means.
On Thursday, Trump doubled down on his warnings, saying his “fire and fury” remark may not have been tough enough. Some could reach the mainland US, according to Pyongyang.