Summary: S.1562 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.1562. Bill summaries are authored by CRS.

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Introduced in Senate (07/13/2017)

North Korean Enablers Accountability Act of 2017

This bill directs the President to: (1) impose property-blocking sanctions against the North Korean government, business entities that trade with North Korea, including specified Chinese entities, and affiliated persons or entities; (2) prohibit the opening, and strictly control the maintaining in the United States, of correspondent or payable-through accounts by a foreign financial institution that assisted in the importation, sale, or transfer of North Korean goods or services; and (3) impose specified sanctions against a person that imports, purchases, or transfers goods or services from the North Korean government or from such entities or affiliates.

The President may waive the application of these sanctions for humanitarian or national security purposes.

The bill prohibits the U.S. entry of goods mined, produced, or manufactured by North Korean labor, and directs the President to apply property-blocking sanctions against a person or entity that mines, produces, or manufactures such prohibited goods. Such prohibition shall not apply if U.S. Customs and Border Protection finds that the goods were not produced with trafficked, convict, forced, or indentured labor.

The Securities and Exchange Commission shall require issuers of stock and other securities to disclose annually any investments in North Korea and activities potentially sanctionable under this bill.