A Financial Constriction Strategy for North Korea
Although U.N. sanctions alone will be insufficient to put real pressure on Kim Jong Il, our own Treasury Department has had proven success at targeting the North Korean regime’s finances and putting the regime under severe economic strain. Unlike U.N. action alone, recent experience tells us that these measures could work. Consider what happened in the 17-month period between September 2005 and February 2007, when the Treasury Department took decisive action against North Korea’s counterfeiting of our currency. Treasury applied...