Monday, March 11, 2013
The U.S. cuts off North Korea from the American financial system
The Obama administration has responded with more crippling sanctions after North Korea declared and end to the the 1953 armistice that ended the Korean War.
The Obama administration has made it clear that they will not seek to ease tensions, as past administrations have done, by providing aid in exchange for promises to scale back the weapons program.
"The United States will not play the game of accepting empty promises or yielding to threats," Thomas Donilon, President Obama's national security advisor, said in a speech to the Asia Society in New York. "To get the assistance it desperately needs and the respect it claims it wants, North Korea will have to change course."
Donilon announced that the U.S. would be cutting the Foreign Trade Bank of North Korea off from the American financial system. A move that is aimed to stop financing Pyongyang's nuclear and missile programs.
South Korea's new president, Park Geun-hye, said Monday during her first Cabinet meeting that the country needed to "deal strongly with the North Korean provocation." She also said her government was prepared to work to build trust between the North and South.
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