U.S. Sanctions Expected to Hit Small Banks’ Business With North Korea

June 3, 2016 1:30 PM

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U.S. Sanctions Expected to Hit Small Banks’ Business With North Korea

The Chinese government said on Thursday that it opposed the Treasury action, although Beijing signed onto a tough new round of United Nations sanctions imposed on North Korea in March as punishment for a nuclear test it conducted earlier this year.

“We consistently oppose imposing unilateral sanctions on other countries based on one’s domestic laws,” said a Foreign Ministry spokeswoman, Hua Chunying. Instead of creating new sanctions, countries should “fully implement” the United Nations sanctions established in March, she said.

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