Business News George W. Bush | Page 23

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President George W. Bush and President Hamid Karzai of Afghanistan appear together in 2006 at a joint news conference at the Presidential Palace in Kabul.

three states in an "axis of evil", and saying that "the United States of America will not permit the world's most dangerous regimes to threaten us with the world's most destructive weapons." Within months, "both countries had walked away from their respective commitments under the U.S.-DPRK Agreed Framework of October 1994." North Korea's October 9, 2006, detonation of a nuclear device further complicated Bush's foreign policy, which centered for both terms of his presidency on "[preventing] the terrorists and regimes who seek chemical, biological, or nuclear weapons from threatening the United States and the world". Bush condemned North Korea's position, reaffirmed his commitment to "a nuclear-free Korean Peninsula", and stated that "transfer of nuclear weapons or material by North Korea to states or non-state entities would be considered a grave threat to the United States", for which North Korea would be held accountable. On May 7, 2007, North Korea agreed to shut down its nuclear reactors immediately pending the release of frozen funds held in a foreign bank account. This was a result of a series of three-way talks initiated by the United States and including China. On September 2, 2007, North Korea agreed to disclose and dismantle all of its nuclear programs by the end of 2007. By May 2009, North Korea had restarted its nuclear program and threatened to attack South Korea.

Bush expanded economic sanctions on Syria. In early 2007, the Treasury Department, acting on a June 2005 executive order, froze American bank accounts of

Syria's Higher Institute of Applied Science and Technology, Electronics Institute, and National Standards and Calibration Laboratory. Bush's order prohibits Americans from doing business with these institutions suspected of helping spread weapons of mass destruction and being supportive of terrorism. Under separate executive orders signed by Bush in 2004 and later 2007, the Treasury Department froze the assets of two Lebanese and two Syrians, accusing them of activities to "undermine the legitimate political process in Lebanon" in November 2007. Those designated included: Assaad Halim Hardan, a member of Lebanon's parliament and current leader of the Syrian Socialist National Party; Wi'am Wahhab, a former member of Lebanon's government (Minister of the Environment) under Prime Minister Omar Karami (2004–2005); Hafiz Makhluf, a colonel and