October 26, 2016 11:54
Tokyo is considering a secondary boycott of North Korea by sanctioning foreign companies trading with Pyongyang, Japanese media reported Monday.
The main target would be Chinese firms, which have largely managed to bypass global sanctions against the North.
"Japan is considering separate sanctions in tandem with UN Security Council sanctions," Japanese Foreign Minister Fumio Kishida said. The Diet "has discussed ways to sanction foreign companies trading with the North. The Japanese government is also considering various options, including beefing up existing sanctions."
The blacklist will cover foreign firms that help the North evade UN sanctions or that employ large numbers of expat North Korean workers, Kyodo News said. The most likely targets will be Chinese firms dealing with the North in the border region.
"This aims to block money flow to the North more effectively by sanctioning Chinese companies that serve as a hard currency channel for the regime," a Japanese government official told Kyodo.
Tokyo could freeze Japanese assets of foreign companies trading with the North or prevent them from doing business with Japanese firms.
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