To the Beltway

Barr targets foreign banks doing business with North Korea in newly filed legislation

10/03/2017 10:44 AM

U.S. Rep. Andy Barr is hoping to impose heavy financial sanctions against North Korea, filing legislation that would target foreign banks that transact with any businesses in the communist country. The Impeding North Korea’s Access to Finance Act of 2017 would also punish financial institutions that do business with North Korean laborers, zeroing in on an estimated $300 million in wages confiscated by the North Korean government, according to a news release from Barr’s office. Barr’s legislation, if passed, would dovetail... Read more 


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