Monday, March 11, 2013

U.S. imposing new sanctions on North Korean bank: Obama aide

The U.S. Treasury is imposing sanctions against North Korea's Foreign Trade Bank, the country's main foreign exchange institution, for its role in supporting Pyongyang's weapons of mass destruction program, President Barack Obama's national security adviser said on Monday.

In a speech to the Asia Society in New York, the top White House aide, Tom Donilon, also said China should not conduct "business as usual" with North Korea while Pyongyang threatens its neighbors.