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Mnuchin: New sanctions coming for Russia, North Korea

11:55, Tuesday, 27 February, 2018
Mnuchin: New sanctions coming for Russia, North Korea

The Trump administration is enforcing economic sanctions on Russia, and will deliver a new round of sanctions within 30 days, Treasury Secretary Steven Mnuchin said on Monday.

Mnuchin was speaking to an often rowdy crowd of students and visitors at UCLA’s Anderson School of Management in Los Angeles, where he delivered a brief lecture that was followed by an interview with Marketplace’s Kai Ryssdal.

“I can assure you, in Treasury, because we are responsible for this, we are enforcing all the existing sanctions and putting more in place,” he told the audience of the administration’s actions on Russia.

In a wide-ranging interview, Mnuchin also highlighted the administration’s stance on North Korea, saying the Trump White House has more authority to issue sanctions than that of any previous president, and that sanctions should not take decades to achieve desired outcomes.

“These things take some time, but it is not decades, and we've seen evidence that they are already having an impact,” he told Ryssdal. “We want to be careful that we're not doing things … that impact the people. What we're trying to do is cut down [North Korean leader Kim Jong Un]’s ability to do ballistic missiles and nuclear weapons.”

On the domestic front, Mnuchin criticized the concentration of assets in a few large banks since the financial crisis. The Trump administration has called for an overhaul of the Dodd-Frank regulations passed in the wake of the crisis, and Mnuchin said new legislation would focus on the role of smaller banks in the economy.

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