China has expressed its opposition to unilateral sanctions against North Korea saying they could raise tension. As Ryan Brooks reports, it follows a decision by the United States to impose new curbs on the isolated country in retaliation for its nuclear and rocket tests.
Another day, another new layer of sanctions on nuclear North Korea - and the U.S. really means business. President Obama ramping up the blockade with an executive order on Wednesday... New rules allowing Washington to blacklist anybody who deals with major sections of North Korea's economy, whether they're American or not. That means literally anyone from anywhere can now be shut out of the global financial system for doing business with North Korean companies in sectors like finance, mining and transportation. In addition, all North Korean government property in the US has been frozen... And the limited number of U.S. shipments to Pyongyang that were previously allowed have been banned. There have been decades of tension between U.S. and North Korea, but up to Now, Washington hasn't unleashed an all out trade ban like it has in the past with Iran and Myanmar. It may seem like there's not a lot more that can be done do to squeeze North Korea and its nuclear weapons program... But the White House says it will continue to make life harder for Pyongyang until it starts to comply. Experts say the new sanctions are going to make it extremely hard for North Korea to move money anywhere in the world.