WASHINGTON, D.C. - A tough financial and economic sanctions bill on North Korea is expected to pass Congress later this week. The bill is named after Otto Warmbier, the Ohio college student who died in 2017 after he was held prisoner in North Korea for over a year.

On Wednesday, U.S. Sen. Pat Toomey and Warmbier’s parents, Fred and Cindy Warmbier joined Sens. Sherrod Brown (D-Ohio), Rob Portman (R-Ohio), Chris Van Hollen (D-Md.) supporting a bill known as the Otto Warmbier North Korea Nuclear Sanctions and Enforcement Act.

The legislation imposes sanctions on banks and companies that do business with North Korea.

It’s the latest attempt from Congress to force the regime to end its nuclear weapons program. It comes as North Korea has threatened a so-called “Christmas gift” to the U.S. next week.

“You can do business with North Korea or the United States, but not both,” Toomey said. “That shouldn’t be a tough choice for too many institutions.”

“I am still traumatized by what North Korea did to our family and, certainly, what they did to our son,” said Otto’s father Fred Warmbier. “Today, I'm overjoyed at the commitment that these senators have put in their efforts to make a difference in North Korea."

The bill will be included in the National Defense Authorization Act that is expected to pass the Senate on Thursday.

President Donald Trump can waive the sanctions if he chooses. However, the senators are urging Trump to keep intact the sanctions bill as a way to leverage further denuclearization talks between the White House and Pyongyang.