This hearing is entitled a legislative proposal to impede north koreas i recognize myselfe minutes to give an opening statement. Todays hearing will examine legislation that would impose a secondary legislations on foreign banks whose business support north koreas regime. By encompassing virtually all of north koreas economic activity, these measures would represent the top list financial sanctions yet. This means going after coal, petroleum, textiles and minerals. And north korean laborers abroad. The bill would incentivize greater compliance with u. S. Sanctions by where certain countries with lax enforcement go to seek assistance. The bills countries on notice. The proposed legislation has been informed by the committees ongoing work on north korea as well as the u. N. Panel of erts evaluation of existing sanctions effectiveness. North koreas six tests on september 3 coupled with repeated launching of Ballistic Missiles undermines underlines that more must be done. Legislative draft
Hours. And now for us to declare a recess of the committee at any time, and we will have five legislative days to submit extraneous materials to the chairman for inclusion into the record. This hearing is entitled a legislative proposal to impede north kr north koreas access to finance. I recognize myself for five minutes to give an opening statement. Todays hearing will examine draft legislation to impose secondary sanctions on foreign banks whose business supports the north korean regime whether directly or indirectly. By encompassing virtually all of north kr north koreas economic activity, these measures would are represent the toughest financial sanctions yet directed at pyongya pyongyang. This the means going after cole, petroleum, textiles and minerals as well as north korean laborers abroad. In addition, the bill would incentivize greater compliance with the u. N. Sanctions by leveraging the vote at the International Financial institutions where certain countries with the lax e
[inaudible conversations] we need to declare recess of the committee and members will have five legislative days in which to submit extraneous materials in the record. This hearing is entitled a legislative proposal to impede north koreas access to finance. We now recognize myself for five minutes to give an opening statement. Todays hearing will examine draft legislation that would impose secondary sanctions on foreign banks whose business supports the north korean regime. Whether directly or indirectly. By encompassing both the Economic Activity in north korea, these measures would represent the toughest financial sanctions yet directed at north korea. This means going after coal, petroleum, textiles and minerals as well as north korean laborers abroad. In addition, the bill would incentivize greater by leveraging our vote at the International Financial institutions were certain countries with lax enforcement go to seek assistance. This bill puts those countries on notice. This propo
Fluent in mandarin. Mr. Manager former korea and the national Proliferation Center and special visor to the director of national intelligence. It has developed a lot of terrifying weapons. Received ime, and in from kim jongil to kim jongun. How did we get here . One argument that is made explaining the resilience of the kim regime is the fact that eastern europeans witnessed other political systems, good, bad terrible. The regime is truly the result three vision of totalitarian political systems. All, korea was under japanese occupation. Made isment that is that this dictatorship of the regime is truly the result of free totalitarian political systems. We know for sure is this is a criminal regime. In february, a you and tomission submitted a report the Human Rights Council a report that found what is happening in north korea amounts to crimes against humanity. Perfect human a rights record. Only one country in the face of the planet where there are prison camps and that is north korea
On textile exports. Among the witnesses were former cia and Treasury Department officials. This hearing is just under two hours. Ask to declare a recess at any time. All members will have five days to submit extraneous material to the record. This hearing is entitled a legislate iive proposal to impe north koreas access to finance. I recognize myself for five minutes to give an opening statement. Todays hearing will examine draft legislation that would impose secoese secondary sancti foreign banks whose business supports the north korean regime whether directly or indirectly. By encompassing all of north koreas Economic Activity these measures would represent the toughest financial sanctions yet directed at pyongyang. This means going after coal as well as north korean laborers abroad. The bill would incentivize greater compliance with u. N. Sanctions by leveraging our vote at Financial Institutions where certain countries with lax enforcement go to seek assistance. This bill puts thos