f t # e

October 24, 2017

Legislation originated in the Financial Services Committee and provides the strongest financial sanctions on North Korea in history

Washington, D.C. — Today, the House of Representatives passed new financial sanctions against Kim Jung Un and North Korea. The Otto Warmbier North Korea Nuclear Sanctions Act, which Representative Trey Hollingsworth is an original cosponsor of, passed the House Financial Services Committee unanimously and passed the full House on Tuesday by a vote of 415 to 2.

"North Korea poses a threat to American interests both at home and abroad," said Rep. Trey Hollingsworth. "If Kim Jung Un is unwilling to cease his obsession with nuclear weapons then we have an obligation to make it difficult for him to conduct business. This legislation makes it extremely clear to financial institutions: you can either do business with the United States of America or with North Korea but you cannot do business with both."

This legislation was named after Otto Warmbier and reflects the most stringent financial sanctions leveled against North Korea by the House of Representatives. Otto Warmbier, an American from Ohio, was arrested and sentenced to 15 years imprisonment with hard labor after being convicted of attempted theft of a propaganda poster in his North Korea hotel in January 2016. Warmbier suffered a neurological injury, from an unknown cause, roughly one month after his imprisonment. His condition was not disclosed to United States officials until June of 2017 when he fell into a coma. Diplomatic efforts were successful in having Warmbier repatriated to the United States where he died six days later. United States officials blame North Korea for his death. Warmbier was one of 16 Americans detained by North Korea since 1996, three of whom are still being detained.


Stay Connected

Use the form below to sign up for my newsletter and get the latest news and updates directly to your inbox.

Office Locations