Mnuchin: Will Continue to Use Sanctions on North Korea
Treasury Secretary Steven Mnuchin said the U.S will remain vigilant against the threat of North Korea’s nuclear weapons program.
“We have put sanctions on North Korea we will continue to look at this,” Mnuchin told the FOX Business Network’s Maria Bartiromo.
He said he has worked closely with the National Security Council to impose 250 new sanctions on Syria, Iran, Russia and North Korea.
“Sanctions are about making sure that where people are supporting terrorist activities or weapons of mass destruction, that we are cutting them off from the U.S. financial system and we are encouraging our partners around the world to do the same thing,” he said.
Mnuchin also pointed out how on occasion secondary sanctions can be used as a “very, very powerful” tool.
“What secondary sanctions say is that institutions must honor them or they are cut off from the U.S. financial system,” he said.
The U.S. has enlisted the help of North Korean ally China, put military options back on the table and is considering more economic sanctions. While it’s unclear how the U.S. will proceed to confront North Korea, Mnuchin was confident in the Treasury’s ability to continue to work closely with the intelligence community.
“The sanctions programs do work, and they are powerful tools, and we will continue to use them,” he said.