BREAKING NEWS

'US imposing new sanctions on N.Korean bank'

By REUTERS

MARCH 11, 2013 19:29

NEW YORK- The US 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, US 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.

"The United States will not accept North Korea as a nuclear state," Donilon said in prepared remarks. "Nor will we stand by while it seeks to develop a nuclear-armed missile that can target the United States."

He said Washington was willing to negotiate with North Korea but insisted that it first must take "meaningful steps" to meet its international obligations.

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