White House Order Allows Sanctions Against Foreign Businesses Tied to North Korea

By Colby Adams

U.S. President Barack Obama signed an executive order on Tuesday clearing the way for sanctions against a broad array of foreign businesses operating on behalf of or within North Korea. The order, published Wednesday, permits the U.S. Treasury Department to impose blocking restrictions against assets controlled by foreign companies and individuals involved in "any" industry in the communist nation, as well as against entities that directly or indirectly purchase or supply metal, graphite, coal or software linked to North Korea's government. The measure also bars U.S. financial institutions from facilitating or guaranteeing any transaction between foreign companies and North Korea...