[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
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 proposed legislation has been informed by the committees ongoing work on north korea, as well as the un panel of experts evaluation of existing sanctions effectiveness. Needless to say, north koreas sixth nuclear test on september 3, coupled with its repeated launching of intermediate and longrange Ballistic Missiles underlines that more must be done. As a result, the legislative draft will be looking at plays out a c
For what purpose does the gentleman from california seek recognition . Mr. Royce i move the house suspend the rules and pass h. R. 2061 as amended. The speaker pro tempore the clerk will report the title of the bill. H. R. 2061, a bill authorize authorize a bill to reauthorize the north korean human rights act of 2004 and for other purposes. The speaker pro tempore pursuant to the rule, the gentleman from california, mr. Royce, and the gentleman from new york, mr. Engel, will each control 20 minutes. The chair now recognizes the gentleman from california, the chair of the committee, mr. Royce. Mr. Royce i ask unanimous consent that all members may have five legislative days to revise and extend their remarks and to include any extraneous material into the record. The speaker pro tempore without objection. Mr. Royce i thank you. I yield myself such time as i may consume. The speaker pro tempore the gentleman is recognized for such time as he may consume. Mr. Royce mr. Speaker, thanks. A
We ask you all to take your seats if you will. Today we hear from deputy secretary of state John Sullivan on the proposed reforms that he and secretary tillerson are working on for the state department and for the agency for international development. I dont think there are many that question the need to improve the operation of both agencies. A more efficient and effective state department in u. S. A. Id would better promote our National Security and our many other interests around the world. So i have welcomed the administrations undertaking. Secretary state Rex Tillerson has started a process here as those that state will tell you where hes focusing on listening to the diplomats and listening to the employees. Our Foreign Service officers. I think this is very commendable. He has sought feedback from the bottom up. Many employees, he reports, have asked, and i think this speaks volumes, theyve asked for more responsibility and in turn more accountability for their performance. They
We ask you all to take your seats if you will. Today we hear from deputy secretary of state John Sullivan on the proposed reforms that he and secretary tillerson are working on for the state department and for the agency for international development. I dont think there are many that question the need to improve the operation of both agencies. A more efficient and effective state department in u. S. A. Id would better promote our National Security and our many other interests around the world. So i have welcomed the administrations undertaking. Secretary state Rex Tillerson has started a process here as those that state will tell you where hes focusing on listening to the diplomats and listening to the employees. Our Foreign Service officers. I think this is very commendable. He has sought feedback from the bottom up. Many employees, he reports, have asked, and i think this speaks volumes, theyve asked for more responsibility and in turn more accountability for their performance. They