The U.S. Department of Treasury on Tuesday issued sanctions on eight banks and 26 individuals linked to the Democratic People's Republic of Korea (DPRK) financial networks in response to the country's ongoing development of weapons of mass destruction.
The individuals sanctioned are DPRK nationals operating in some foreign countries who act as representatives of DPRK banks, said a statement issued by the Treasury Department.
As a result of the action, any property or interests of the designated persons in the U.S. will be blocked.
"We are targeting North Korean (DPRK) banks and financial facilitators acting as representatives for North Korean (DPRK) banks across the globe," said U.S. Treasury Secretary Steven Mnuchin.
"This further advances our strategy to fully isolate North Korea (DPRK) in order to achieve our broader objectives of a peaceful and denuclearized Korean peninsula. This action is also consistent with UN Security Council Resolutions," Mnuchin added.
The Treasury Department said Tuesday's sanctions are being taken to complement the UN Security Council resolution adopted on Sept. 11. The resolution imposed fresh sanctions on the DPRK over its nuclear test on Sept. 3, targeting oil imports and textile exports.
The sanctions came as DPRK and U.S. leaders were escalating their war of words. U.S. President Trump tweeted over the weekend that DPRK's top leader Kim Jong Un "won't be around much longer," which was interpreted by Pyongyang as a declaration of war. The White House later clarified the United States has no intention of entering into armed conflict on the peninsula.
The row between the United States and the DPRK began earlier at the UN General Assembly. Trump said that the United States would have no choice but to "totally destroy" the DPRK unless Pyongyang refrains from its nuclear tests and missile launches. DPRK Foreign Minister Ri Yong-ho responded by calling Trump "mentally deranged."
The DPRK conducted another medium-range ballistic missile test on Sept. 15, just days after the council imposed fresh sanctions on the country over its nuclear test on Sept. 3.
