The U.S. House of Representatives on July 12 approved a defense package that includes an amendment introduced by U.S. Rep. Andy Barr (R-KY) to impose financial sanctions on North Korea aimed at ending its nuclear proliferation.
“The bottom line is simple — foreign banks can either do business benefitting North Korea or do business with the United States,” Rep. Barr said. “They cannot do both. I am proud that the House unanimously adopted my amendment.”
Rep. Barr’s amendment, the Otto Warmbier North Korea Nuclear Sanctions Act, is modeled in part on the Iranian nuclear sanctions enacted in 2010. The congressman’s amendment received House approval on Friday as part of the National Defense Authorization Act (NDAA) for Fiscal Year 2020, H.R. 2500.
If enacted, the amendment states Congress would give additional leverage to the U.S. Secretary of State and the United Nations Ambassador to peacefully resolve the North Korea nuclear crisis, the congressman explained.
“This amendment would impose secondary sanctions on foreign financial institutions that do business with virtually anyone that trades with North Korea, and would cut off Pyongyang’s ability to earn hard currency through North Korean laborers working abroad,” said Rep. Barr.
The amendment honors American student Otto Warmbier, who died after North Korea returned him to the United States in a coma following over a year of captivity by the country’s regime.
Despite approval of his amendment, Rep. Barr called the larger H.R. 2500 a “partisan bill crafted by House Democrats” that under funds America’s military, neglects key deterrence initiatives against Russian and Chinese aggression, and creates uncertainties for military service members stationed abroad, all of which he said prevented him “from being able to support the underlying bill, which passed the House with zero Republican votes.”
“I look forward to advocating for my amendment in conference with the Senate to produce a bipartisan package that properly supports our military,” Barr added.