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The United States is risking a new showdown with China in its attempts to heighten the pressure on the Democratic People's Republic of Korea's sovereign right to develop its arms and nuclear program, imposing sanctions on two Chinese citizens and a shipping company while leveling charges at a Chinese bank accused of laundering money for Pyongyang.
U.S. Treasury Secretary Steve Mnuchin said at a press conference that the actions were designed to cut off funds that the DPRK uses to develop its weapons program. "We will follow the money and cut off the money," he said.
A Treasury statement named the bank as the Bank of Dandong and the firm as Dalian Global Unity Shipping Co Ltd. It named the two individuals as Sun Wei and Li Hong Ri.
The sanctions imposed on the two Chinese citizens and the shipping company blacklists them from doing business with U.S.-tied companies and people.
On Wednesday, a senior White House official told reporters China was "falling far short of what it could bring to bear on DPRK in terms of pressure."
"I wish we would have a little more help with respect to North Korea from China, but that doesn't seem to be working out," Trump said last week following his typically aggressive tweets about Chinese efforts having not supposedly "worked out."
The U.S. move came as U.S. President Donald Trump was due to meet South Korean President Moon Jae-in at the White House on Thursday to discuss steps to push DRPK to abandon its weapons programs, which have become an increasing threat to the United States.
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However, while Washington has attempted to use the language of threats and bluster against Pyongyang, regional powers have attempted to defuse the crisis by diplomatic means.
On Wednesday, Chinese Foreign Ministry spokesperson Lu Kang noted that Beijing's “parallel-track approach” and “double suspension” proposals, which aim to halt the DPRK's nuclear and ballistic programs in exchange for an end to U.S. and South Korean military drills, are garnering increased support from a growing number of countries.
Beijing is also discussing a resolution of the crisis with Moscow, which has stressed the need for dialogue as a key to addressing the contending parties' needs.
"We stand for a comprehensive solution of all the problems on the Korean Peninsula exclusively by peaceful means, through dialogue without preconditions of all the parties involved, and above all the main antagonists: the United States and North Korea," Russian Deputy Foreign Minister Igor Morgulov told Sputnik Tuesday.
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