US impose sanctions against North Korea over Sony attack

Sanctions targets 3 entities, denies them access to US financial system

<a href="http://www.shutterstock.com/pic-87123070/stock-photo-the-flag-of-north-korea-waving-in-the-wind-against-a-blue-sky.html?src=rHVcsI_UIzsfSLm2XpGwVw-1-58" target="_blank">North Korea flag</a> image via Shutterstock
IANS Washington
Last Updated : Jan 03 2015 | 10:18 AM IST

US President Barack Obama signed an executive order, imposing new sanctions against the government of North Korea in response to what he called Pyongyang's "numerous provocations," particularly the cyber attack on Sony Pictures Entertainment.

The sanctions targeted three entities - Reconnaissance General Bureau, Korea Mining Development Trading Corporation and Korea Tangun Trading Corporation, as well as ten individuals who work for the aforementioned entities, denying them access to the US financial system and banning them doing transactions with US citizens according to the US Treasury Department, Xinhua reported.

The actions "will further isolate key North Korean entities and disrupt the activities of close to a dozen critical North Korean operatives," US Treasury Secretary Jacob Lew said in a statement issued Friday.

"As the President has said, our response to North Korea's attack against Sony Pictures Entertainment will be proportional, and will take place at a time and in a manner of our choosing. Today's actions are the first aspect of our response," the White House said.

The US has accused Pyongyang of hacking Sony Pictures Entertainment over a comedy film 'The Interview' that depicts an assassination attempt on North Korea leader Kim Jong Un. But North Korea has denied involvement, saying such claims were "a wild rumour".

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 03 2015 | 9:48 AM IST

Next Story