NORTH KOREA is starting to feel the effects of sanctions imposed on the hermit kingdom and is now “running out of cash”, an expert has claimed.
By Darren Hunt
North Korea author Gordon Chang has claimed that Kim Jong-un’s brutal regime is starting to feel the full force of sanctions imposed on the state.
The rogue state has been re-designated a state sponsor of terrorism, meaning the US can enforce even more sanctions on Kim Jong-un’s regime.
Mr Chang told Fox Business that North Korea was starting to feel the impact of sanctions and said that it was “good news”.
He said: “What’s important here is that the Treasury Department is actually starting to implement President Trump’s September 21 executive order which is sweeping.
North Korea news: Gordon Chang claimed the regime are suffering from sanctions & running out of cash
“It was so sweeping that actually there was a lot of concern that Treasury didn’t have the people to enforce this.
“What we are seeing now is the enforcement. We are going to see a number of announcements in the next couple of weeks with more individuals, shipping companies, vessels being sanctions.
“We are also getting to see they are having an effect, that North Korea is starting to run out of cash which is really good news.”
North Korea has been re-designated a state sponsor of terrorism, as the US President attempts to put a stop to the hermit kingdom’s threats to the globe amid fears conflict could spark World War 3.
US Secretary of State Rex Tillerson said: “We still hope for diplomacy and the timing of this is just one of us concluding the process.
“There is a very specific designation progress that we have to go through at the State Department to meet the criteria for the designation.
“We wanted to make sure we had met all those requirements. Again this is all part of us continuing to turn this pressure up.”
The designation of Kim Jong-un’s brutal regime will allow the US to impose more sanctions.
A NORTH KOREAN KOREAN PEOPLE’S DEFECTOR DRIVING ALONG A ROAD LEADING TO THE TRUCE VILLAGE OF PENMUNJOM
President Donald Trump said: “In addition to threatening the world by nuclear devastation, North Korea has repeatedly supported acts of international terrorism, including assassinations on foreign soil.
“This designation will impose further sanctions and penalties on North Korea and related persons and supports our maximum pressure campaign to isolate the murderous regime.”
North Korea ramped up their testing of nuclear weapons over the past few months and threatened to strike US territory Guam, during Kim Jong-un’s war of words with President Trump.
The US President travelled across Asia meeting with allies to present a united front to stand up against the brutal dictator’s hermit kingdom.