United Nations imposes tough new sanctions on North Korea

UN council OKs sanctions measure that could cut $1B from North Korea each year

The United Nations Security Council has voted unanimously to approve tougher sanctions on North Korea, including a ban on exports worth at least $1 billion.

China opposed the DPRK's missile launches in violation of UN Security Council resolutions and against the will of the global community, said China's Ambassador to the UN Liu Jieyi after the vote. Today you're going to see the action.

"She claimed that "all options are on the table", but that North Korea's reckless and irresponsible actions "[have] to stop".

This is the seventh Security Council resolution to target Pyongyang for its missile tests since 2006, with the last round of sanctions passed in June.

The sanctions ban countries from buying North Korean coal, iron, iron ore, lead, lead ore and seafood. It also prohibits countries from increasing the number of North Koreans working overseas and bans new joint ventures with the North as well as any new investment in current joint ventures.

The sanctions provided in Resolution 2371 aim to slash North Korea's annual export revenue of US$3 billion by a third.

"To have China stand with us, along with Japan and [South Korea] and the rest of the global community telling North Korea to do this, it's pretty impactful", Haley said. "It was not a good day for North Korea", she said.

"These sanctions will cut deep, and in doing so will give the North Korean leadership a taste of the deprivations they have chosen to inflict on the North Korean people", Haley said.




It also expresses regret at North Korea's "massive diversion of its scarce resources toward its development of nuclear weapons and a number of expensive ballistic missile programs" noting United Nations findings that well over half the population lacks sufficient food and medical care and a quarter of the population suffers from chronic malnutrition.

"The North Korean threat has not left us".

While the draft resolution would impose biting economic sanctions, the US didn't get everything it wanted. This year, Pyongyang was estimated to earn $251 million from iron and iron ore exports, $113 million from lead and lead ore exports, and $295 million from fish and seafood exports, the diplomat said. It also imposes an asset freeze on two companies and two banks.

Russian Federation and China have advocated a freeze-for-freeze approach, whereby the USA and South Korea would halt their military exercises and North Korea would do the same.

It also gives the committee a green light to designate specific vessels that are breaking sanctions from entering ports all over the world and to work with Interpol to enforce travel bans on North Koreans on the sanctions blacklist.

Oil was not included in the draft resolution and neither are new air restrictions. Despite that, the US and two previous South Korean governments "essentially bought into a sanctions approach to try and stop North Korea", says John Delury, a North Korea watcher who teaches global relations at Seoul's Yonsei University.

"China has always insisted on realizing the denuclearization of the Korean Peninsula, maintaining peace and stability on the Peninsula and seeking a solution through dialogue and consultation", Liu said.

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