Torres Bipartisan Proposal to Strengthen Sanctions Against North Korea Passes on House Floor
WASHINGTON, DC – Rep. Norma J. Torres (D-CA), a member of the House Committee on Foreign Affairs, announced that her bipartisan legislative proposal to prevent the advancement of North Korea’s nuclear weapons program by more accurately determining the regime’s revenue sources passed on the House floor. The proposal, modeled after Torres’s H.R. 6237 North Korea Follow the Money Act, passed as part of the Matthew Young Pollard Intelligence Authorization Act for 2018 and now moves to the U.S. Senate for further consideration.
“I support the idea of talks with North Korea on nuclear weapons, but any deal needs to be carefully constructed,” said Torres. “Before we lift any sanctions on North Korea, we need a clear idea of where this regime gets its money and where the pressure points are. Otherwise, we might give away the store without realizing it.”
Torres was joined by Rep. Ann Wagner (R-MO) in introducing the legislative proposal. It would require the Director of National Intelligence, in coordination with the Secretary of State, to produce a national intelligence estimate of North Korean revenue sources. The estimate would include information regarding North Korean funding sources, financial and non-financial networks through which North Korea accesses U.S. and international financial systems, and global financial institutions that assist North Korea with financial transactions.
Torres is a member of the powerful House Rules Committee.