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SEOUL, Aug. 4 (UPI) -- South Korea's top diplomat warned Wednesday new financial sanctions may be imposed on the North within the next two weeks.
Foreign Minister Yu Myung-hwan told a local radio station the new measures planned by the international community will target the North's "illegal activities," South Korea's Yonhap News Agency reported.
"The United States will issue executive orders, which are legally binding, to specifically target North Korea's trade of conventional weapons and purchase of luxury goods," Yu said.
He said the measure will also cover counterfeiting of U.S. banknotes and the smuggling of narcotics.
"We're expecting concrete measures within the next two weeks that will freeze assets of related North Korean individuals or companies and will prohibit third world countries from dealing with such individuals or companies," Yu said.
He said the aim of the sanctions is to change North Korea's behavior.
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