The US will hold off on applying major new sanctions against Pyongyang while it tries to put back on track the proposed June summit between President Donald Trump and North Korean leader Kim Jong-un, The Wall Street Journal reported.
A US official told the Journal on Monday that the White House had been set to announce the sanctions as soon as Tuesday but will now delay them indefinitely as negotiations with North Korea continue, reports The Hill.
The Treasury Department had readied a sanctions package aimed at more than 30 targets, including Russian and Chinese entities, the official added.
American officials are currently in North Korea to meet their counterparts in the truce village of Panmunjom on demilitarized land near the South Korean border.
The officials are meeting through Tuesday attempting to get the June 12 summit in Singapore back in motion.
Trump last week unexpectedly cancelled the planned summit with Kim, citing North Korea's "tremendous anger and open hostility".
The two countries, as well as South Korea, have since worked to reschedule the meeting, with the White House this weekend sending a team of American officials to Singapore to meet North Koreans and prepare should the summit go forward.
The US and the UN over the last several years have been able to ban most of North Korea's trade and cut off a large portion its foreign income stream - including getting China to reduce trade.
[ Source- IANS]