October 25th, 2017 by WCBC Radio

On Tuesday, the House of Representatives passed legislation (H.R. 3898) to establish financial sanctions on financial institutions that facilitate transactions or provide financial services to persons engaged in business with North Korea. These secondary sanctions would expand and strengthen sanctions passed earlier this year.

Congressman John K. Delaney (MD-6) is one of nine Democrats to cosponsor the legislation and also supported the legislation earlier this month in the Financial Services Committee. 

“These are some of the toughest sanctions ever brought forward by this body and I commend my colleagues on both sides of the aisle for supporting this bill,” said Congressman Delaney. “North Korea is a significant threat to our national security and to the security of our allies and to avoid a catastrophe, we must utilize every tool we have. As the world’s leading economy, we have tremendous leverage and we should make sure that North Korea lacks the resources to threaten the safety of the world. Unfortunately, that leverage in Asia has been significantly weakened by President Trump’s withdrawal from the Trans-Pacific Partnership, which would have led to domestic economic growth and strengthened our hand with China. I look forward to this legislation passing the Senate and being signed into law so that we can start cracking down on those that do business with North Korea.”