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US slaps sanctions on North Korean banks

The US imposed sanctions on eight North Korean banks and 26 executives ratcheting up pressure on the country amid exchanges with Pyongyang over its nuclear programme. The new sanctions target North Koreans working as representatives of North Korean banks in China, Russia, Libya and the United Arab Emirates. All property and interest of the designated companies and individuals in the US are blocked by the sanctions, effectively freezing them out of much of the global financial system.