The Screw Turns I: New US Financial Sanctions

This week, we lead with two developments on the sanctions front; today, the Treasury ruling that places new constraints on North Korea’s access to the international financial system; and on Wednesday, a discussion of new European sanctions. The new Treasury “finding” and “notice of proposed rule-making,” as they are technically called, stem from the 2001 Patriot Act and its measures against money-laundering and terrorist financing. Under the Act, Treasury has the power to conclude that a foreign

Source: Peterson Institute (PIIE)