"Today’s sanctions target key leaders of North Korea’s unlawful weapons programs as highlighted in the recently adopted UNSCR 2397 of December 22," read a statement issued by the U.S. Department of the Treasury.

As a result of today’s actions, any property or interests in property of those designated by OFAC within U.S. jurisdiction are blocked, and transactions by U.S. persons involving the designated persons are generally prohibited.

“Treasury is targeting leaders of North Korea’s ballistic missile programs, as part of our maximum pressure campaign to isolate the DPRK and achieve a fully denuclearized Korean Peninsula,” said Treasury Secretary Steven T. Mnuchin.  “These actions follow Friday’s United Nations Security Council Resolution, which imposed strong new sanctions on North Korea further shutting down its ability to raise illicit funds.”

Relationship between the US and North Korea have touched new low in the year 2017.

Last week, United Nations placed several new sanctions on the Kim Jong-un led nation.

According to the new sanctions:

North Korea will not receive more than 500,000 barrels of petrol a year. Crude oil has been capped at four million barrels a year.

All North Korean nations working in foreign nations will have to come back to their home country within two years or 24 months. The plan will reduce foreign cash flow in North Korea substantially.

Ban on export of North Korean goods have also been suggested and is likely to be put in place