Published: Wed, September 13, 2017
Worldwide | By Gretchen Simon

UNSC slaps new sanctions on North Korea

UNSC slaps new sanctions on North Korea

The U.N. Security Council has unanimously approved new sanctions on North Korea in a watered-down resolution without an oil import ban or worldwide asset freeze on the government and leader Kim Jong Un that the Trump administration wanted.

On Monday, following North Korea's latest nuclear test on September 2, the UN Security Council banned the supply, sale, or transfer of all condensates and natural gas liquids, and banned Pyongyang's exports of textiles such as fabrics and apparel products.

A tougher initial US draft was weakened to win the support of China, Pyongyang's main ally and trading partner, and Russian Federation, both of which hold veto power in the council. I don't know if it has any impact, but certainly it was nice to get 15-to-nothing vote.

North Korea detonated its sixth and most powerful nuclear bomb on Sunday last week, which it said was a hydrogen device.

The Washington Post reported that Yun traveled to Moscow at the invitation of the Russian government, where he urged the Kremlin's support for new United Nations sanctions on North Korea.

Treasury Secretary Steven Mnuchin also warned that if China fails to fully implement the new United Nations sanctions, the US could impose additional sanctions on China and prevent it from accessing the USA financial system.

North Korea regularly threatens to destroy South Korea and its main ally, the USA, which it accuses of continual preparation for invasion.

This will not only starve the regime of any revenues generated through such arrangements, it will now stop all future foreign investments and technology transfers to help North Korea's nascent and weak commercial industries, a United States fact sheet said.

He said North Korean bank representatives still operate in Russian Federation in "flagrant disregard" of United Nations resolutions that Moscow voted for. And the new measure dilutes the original language that would have banned the import of North Korean laborers altogether, saying that countries should not provide work authorization papers unless necessary for humanitarian assistance or denuclearization.

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Lawmakers who spoke Tuesday supported the USA pressure tactics, while voicing skepticism that North Korea could be forced into abandon nuclear weapons it regards as a guarantee of survival for the Kim dynasty.

US officials have rejected China and Russia's proposal for the suspension of its large-scale military drills on the Korean peninsula in exchange for North Korea to end its nuclear weapons program.

Mr Ri and Mr Hong have played vital roles in the North's nuclear programme, accompanying Mr Kim during field inspections and weapons tests, including the latest nuclear test.

"North Korea will lose Dollars 700 million to USD 800 million a year from the textile ban".

Chinese banks have come under spotlight as a means for North Korea to receive and send funds.

Resolution 2375 also includes a ban on exports of North Korean textiles, a key source of revenue for the regime and restrictions on the use of North Korean workers overseas.

"The North Korean political system lacks full autonomy and basically serves as a puppet of the emerging eastern powers and Europe".

On Monday, the UNSC, however, condemned Pyongyang for its "flagrant disregard" of its previous resolutions, and demanded that it immediately suspend its ballistic missile and nuclear programmes.

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