North Korea: Economic Sanctions

Abstract

U.S. economic sanctions are imposed against North Korea for four primary reasons: (1) North Korea is seen as posing a threat to U.S. national security; (2) North Korea is designated by the Secretary of State as a state sponsor or supporter of international terrorism; (3) North Korea is a Marxist-Leninist state, with a Communist government; and (4) North Korea has been found by the State Department to have engaged in proliferation of weapons of mass destruction. The United States has also taken steps to isolate the Macau-based Banco Delta Asia for counterfeiting and money-laundering activities, actions North Korea has characterized as attacks against it. In accordance with U.S. law, the United States limits some trade, denies trade in dual-use goods and services, limits foreign aid, and opposes entry into or support from international financial institutions. At the President's discretion, North Korea would also be subject to the economic sanctions pursuant to the International Religious Freedom Act of 1998, under which the administration has identified North Korea as a country of particular concern since 2001, and pursuant to the Trafficking Victims Protection Act of 2000, under which the administration has classified North Korea in the category of most severe offender (Tier 3) since 2003. In October 2002, after meetings between high-level U.S. and North Korean government officials, the United States reported that North Korea had confirmed suspicions that it had reactivated its nuclear weapons development program. An international crisis ensued, with North Korea expelling International Atomic Energy Agency (IAEA) inspectors and declaring that it would withdraw from the Non- Proliferation Treaty. Participants in the Korean Energy Development Organization (KEDO) including United States, Japan, South Korea and European Union in turn suspended shipments of fuel oil.

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Document Details

Document Type
Technical Report
Publication Date
Oct 17, 2006
Accession Number
ADA461417

Entities

People

  • Dianne E. Rennack

Organizations

  • Library of Congress

Tags

Communities of Interest

  • Biomedical
  • Space

DTIC Thesaurus Topics

  • Arms Control Treaties
  • Ballistic Missiles
  • Commerce
  • Communist Countries
  • Department Of State
  • Economic Sanctions
  • Foreign Aid
  • Foreign Policy
  • Foreign Relations
  • Governments
  • International Organizations
  • International Relations
  • Law
  • National Security
  • North Korea
  • Nuclear Energy
  • Treaties

Readers

  • International Relations, focusing on Korea-Africa and North Korea-South Korea relations, and Nigeria-Latin American Relations.
  • Nuclear Non-Proliferation and International Security
  • Political Violence and Terrorism Studies.