Oil workers conduct a drill in a petroleum well in Lagunillas at the east coast of Lake Maracaibo near Maracaibo City in Venezuela. Jorge Silva/Reuters
CNBC: North Korea may have just given US much needed win in war waged by sanctions
* The United States is using energy sanctions around the world to bring its rivals to heel.
* Some foreign policy analysts warn that the penalties are falling short of their aim.
* Sanctions are most effective when there is broad international support and a clear goal.
* On Tuesday, North Korea said it was open to talking to South Korea and the U.S. regarding denuclearization and normalizing ties.
The United States is deploying energy sanctions from Caracas, Venezuela, to the Korean Peninsula in a bid to bring its rivals to heel. On Tuesday there was a potential breakthrough: A South Korea delegation that met leader Kim Jong Un reported that the North Korean leader is willing to hold talks with the U.S. on denuclearization and normalizing ties. They also said North and South Korea will hold their first summit meeting in more than a decade in late April.
If North Korea fulfills those promises that would be a big win and sign that the recent ineffectiveness of sanctions against some of the United States' biggest enemies — which have fallen short of their goals — may not apply to North Korea. Treasury Secretary Steve Mnuchin said on Tuesday that more sanctions against Russia will be unveiled in the coming weeks.
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WNU Editor: Venezuela is not getting the expertise it needs to run its oil industry. Iran is still barred from many international banks. And North Korea is limited on purchasing oil supplies. So yes .... The U.S. is using energy sanctions to put pressure on many of its foes .... and IMHO it looks like it is working (at least in the case of North Korea).
