U.S. Wants Sanctions on Chinese Banks Connected to North Korea

Washington is preparing to put sanctions on Chinese financial institutions that do business with North Korea. The Chairman of the U.S. House Foreign Affairs Committee, Ed Royce, aid it's time to impose strong pressure on North Korea.

The financial institutions include twelve banks, including China's largest banks, Industrial and Commercial Bank of China, Agricultural Bank of China and China Merchants Bank.

Beijing has said it "strongly opposes" North Korea's repeated provocations and the Chinese ambassador to the UN said that Beijing "condemns" North Korea.