The Japanese government on Wednesday decided to tighten financial sanctions against North Korea starting July 6 in relation with the South Korean Cheonan corvette sinking.
The 1,200-ton South Korean warship sank near the disputed Northern Limit Line in the Yellow Sea on March 26, causing the loss of 46 lives. An international investigation revealed that North Korea fired a torpedo at the vessel from a submarine, although Pyongyang has denied the allegations.
The sanctions involve cutting the size of remittances and cash allowed out of Japan to North Korea. In particular, the limit for the amount authorized for transfer from Japan to North Korea will be reduced from $110,000 to $33,000. Cash authorized to be taken to North Korea will be reduced from $3,300 to $1,100.
Japan imposed initial six-month sanctions towards North Korea in October 2006 because of its nuclear tests. The sanctions include a total ban on imports from North Korea and export to the country, as well as prohibiting North Korean-flagged vessels from entering Japanese ports.
The sanctions were extended every six months since 2006 and in April 2009, they were extended for a year. In April 2010, sanctions against Pyongyang were again extended for a year.
TOKYO, June 16 (RIA Novosti)
