Trump administration impose new sanctions on Chinese banks over North Korea ties

U.S. President Donald Trump and Chinese President Xi Jinping (R) meet on the sidelines of the G20 Summit in Hamburg, Germany, July 8, 2017. REUTERS/Saul Loeb, Pool

Vastavam web: Frustrated that China has not done more to rein in North Korea, the Trump administration could impose new sanctions on small Chinese banks and other firms doing business with Pyongyang within weeks, two senior U.S. officials said.The U.S. measures would initially hit Chinese entities considered “low-hanging fruit,” including smaller financial institutions and “shell” companies linked to North Korea’s nuclear and missile programs, said one of the officials, while declining to name the targets.
President Donald Trump and his top aides have signaled growing impatience with China over North Korea, especially since Pyongyang last week test-launched its first intercontinental ballistic missile, which experts say could put all of Alaska in range for the first time.U.S. officials have also warned that China could face U.S. trade and economic pressure – something Trump has held in abeyance since taking office in January – unless it does more to restrain its neighbor.
Word of the sanctions plan comes as U.S. ambassador to the United Nations Nikki Haley seeks to overcome resistance from China and Russia to a U.N. Security Council resolution imposing stiffer international sanctions on Pyongyang.The targets now being weighed for sanctions would come from a list of firms numbering “substantially more than 10” that Trump shared with Chinese President Xi Jinping at a Florida summit in April and which U.S. experts have continued to compile for review, according to one of the officials.”The president is losing patience with China,” the official said, adding that there would be a “more aggressive approach to sanctioning Chinese entities in the not-too-distant future.”