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Japan has tightened economic sanctions against North Korea to punish the communist regime for its recent rocket launch, Japanese government officials said Friday.

The Japanese cabinet approved the new set of sanctions and tightened the monetary transmission rules to North Korea, said the officials. Under the new rule, any monetary transmission to North Korea over 10 million yen ($100,000) and cash delivery over 300,000 yen ($3,000) has to be reported to the government.

The sanctions also extended a current import ban and embargo on North Korean vessels to Japanese ports. The current sanctions were imposed first in 2006, when North Korea conducted a long-range missile test. Read full article »

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