WASHINGTON — Republican and Democratic lawmakers are proposing to step up sanctions against North Korea by punishing companies, banks and governments that do prohibited business with it.
The bill crafted by leaders of the House Foreign Affairs Committee is modeled on sanctions in force against Iran.
Congressional staffers say it’s intended not only to improve enforcement of existing sanctions, but also expand them.
The measure reflects growing concern over North Korea’s nuclear weapon and missile development, and frustration over the failure of U.S. policy to stop it.
The draft bill was introduced Friday, but its prospects for becoming law are uncertain.
The bill does not name any particular entities but potentially could impact companies and banks in China through which the North conducts most of its business.