Hoeven Statement on Executive Order Imposing Additional Sanctions, Financial Pressure on North Korea's Trade Partners

WASHINGTON – Senator John Hoeven today issued the following statement after the president signed an executive order placing additional sanctions targeting those doing business with North Korea. The order specifically allows the Secretary of the Treasury to take action against persons and entities that engage in international trade with North Korea, as well as the financial institutions facilitating this trade.

“This order forces people, businesses and banks to choose between doing business with the U.S. or trading with North Korea,” Hoeven said. “By targeting the money that Chinese banks and illicit institutions make available to the Kim regime, we can limit the funds available to build up North Korea’s ballistic missile and nuclear warhead programs. I strongly support the President’s action as a significant step in countering the threat North Korea poses to us and to our allies.”

Today’s action by the administration follows Congress’ move to strengthen sanctions against North Korea in July, which Hoeven supported. The senator also called on the U.S. to pressure China to reign in North Korea following the country’s successful test of an intercontinental ballistic missile.

As a member of the Senate Military Construction and Veterans Affairs Appropriations Committee and Energy Appropriations Committee, Hoeven is working to modernize the nation’s nuclear arsenal and ensure it is effective in deterring aggression against the United States. To this end, the senator helped secure the following priorities in the Senate’s recently-passed National Defense Authorization Act (NDAA) for Fiscal Year 2018:

  • $617 million authorized to sustain the existing fleet of intercontinental ballistic missiles (ICBM) and $215.7 million for the Ground Based Strategic Deterrent program to develop a replacement for the existing Minuteman III.
  • $221.4 million authorized for upgrades to the B-52 and $451 million for the Long Range Stand Off (LRSO) missile to replace the aging Air Launched Cruise Missile carried on the B-52.
  • $108.6 million in authorized funding for the Air Force to replace the UH-1N Huey helicopter that provides security for the ICBMs located around Minot Air Force Base.