Washington, D.C. - October 26, 2017 (The Ponder News) -- On October 24, the U.S. House of Representatives passed H.R. 3898, the Otto Warmbier North Korea Nuclear Sanctions Act. The Otto Warmbier Nuclear Sanctions Act, H.R. 3898, incurs strict penalties on any individual that facilitates transfers to North Korea through U.S. accounts or any foreign account that may touch the U.S. financial system.
Statements from House Representatives are below:
Andy Harris (R-MD, 1st)
“I commend my colleagues in Congress for passing the Otto Warmbier North Korea Nuclear Sanctions Act. Otto’s death was the result of abuse by his North Korean captors – one of countless atrocities committed by Kim Jong Un and his oppressive dictatorship. Congress can no longer stand idly by while North Korea starves its citizens, abuses its American prisoners, and builds a nuclear arsenal with the intention of attacking the United States.”
French Hill (R-AR, 2nd)
“We took action in the House Financial Services Committee to impose stronger sanctions on North Korea. We passed legislation out of the committee with a strong bipartisan vote that would incentivize stricter sanction enforcement by foreign countries and require regular reports on sanction implementation from the Department of the Treasury. The legislation also would impose economic restrictions on a number of North Korean and Chinese banks as well as trading corporations and individuals associated with those entities. It also would give the International Monetary Fund the ability to use its budget to assist member states with improving their capacity to prevent money laundering and terrorism finance.
“This legislation comes at an important time as the United States and the international community are taking significant actions against the North Korean regime and their many threats. This legislation adds to the actions the Administration and Congress have already taken to reign in this rogue nation.”
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