Home Business US cuts off Chinese bank over North Korea ties

US cuts off Chinese bank over North Korea ties

Donald Trump
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United States excluded China’s Bank of Dandong from its financial system, alleging that it has helped North Korea evade financial sanctions to launder funds.

Washington had alerted other businesses in June that it plans to take the action, but it finally came into effect just ahead of US President Donald Trump’s Asian tour. The US leader has demanded that Beijing do more to push its neighbour North Korea to stop efforts to build a nuclear-armed missile capable of reaching American cities.

Trump will bring this message to President Xi Jinping in Beijing next week, but China is reluctant to push sanctions so far as to destabilise Kim Jong-Un’s North Korean regime.Officials in Washington warn that, while they will prefer Kim to come to the table, Trump has not ruled out a pre-emptive strike to prevent him from crossing the missile threshold.

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