Japan’s Asakawa: G7 agrees to ramp up economic pressure on N. Korea - RTRS

Masatsugu Asakawa, Japan’s vice finance minister for international affairs, crossed the wires last hour, via Reuters, noting that G7 finance leaders agreed to co-operate in countering North Korean attempts to avert the UN sanctions.

Key Quotes:

“The G7 agreed on the need to apply maximum economic pressure on North Korea by cutting its revenue source and preventing it from abusing the global financial system.”

“We agreed to strengthen co-operation, including by (taking) steps to counter North Korean attempts to avert United Nations sanctions.”

“There was talk of various spill-over effects as central banks of advanced economies normalize monetary policy, and a shared understanding that such effects were among risks to the global economy.”