I haven't looked at the legislation being proposed in the U.S. It's not clear to me what the novelty of the measures would be. The U.S. already has the ability to sanction foreign companies that are not North Korean. Indeed, it has done so on many occasions. The EU has that ability as well. If you look, for example, at the U.S. designation of companies and individuals in Singapore that are facilitating North Korean trade, that's a perfect example of where they have already taken that measure.
That legal authority already exists for them. Indeed, they make fairly good use of it. It is essential. There's a limitation of designations in general in terms of effectiveness. It's both necessary and insufficient to be doing individual designations. It's quite easy for North Korea to quickly transform its appearance. So it's critical when designating an entity as part of a network to designate the bit of the network that has assets that can't be easily moved or shifted. That's critical.
In most cases, North Korea will be able to come up with a different front company name or change the way it operates much quicker than we'll be able to get a legislative package in place to be able to make a case for designation.