BREAKING NEWS

Japan, Australia to sanction N.Korean bank

By REUTERS

MARCH 26, 2013 08:41

TOKYO/WASHINGTON - Japan and Australia plan to sanction North Korea's Foreign Trade Bank as part of US-led efforts targeting Pyongyang's main foreign exchange bank for the role Washington says it has in funding the country's nuclear program.

A Japanese government source said Tokyo could act within the next two to three weeks. Australian Foreign Ministry sources said Canberra might also unveil sanctions soon.

A senior US official said the Obama administration was trying to convince other governments to crack down on the bank after Washington announced its own measures this month.

Washington had urged the European Union to take action, a State Department official said on Monday.

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