Japan Tightens Control on Sending Cash to North Korea

Japan Tightens Control on Sending Cash to North Korea

www.bloomberg.com

May 28 (Bloomberg) -- Japan tightened controls on sending money to North Korea and authorized the Coast Guard to search the communist regime’s ships in response to the deadly attack on a South Korean naval vessel.

The cap on undeclared cash transfers will be lowered to 3 million yen ($32,800) from 10 million yen, Chief Cabinet Secretary Hirofumi Hirano said today in Tokyo.

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That news article continues to say that trade between Japan and North Korea fell 97 percent to 793 million yen in 2008 -- all in Japanese exports -- from 21.4 billion yen in 2005. Last year’s sanctions added to a previous ban on exports of luxury goods imposed in 2006 following the communist nation’s first nuclear test.

I wonder just how much money North Korea, which is a poor country, has lost because of Kim Jong Il's attitudes. That guy is ruining the country.

www.bloomberg.com
(visit the link for the full news article)