Monday | August 21, 2017
About Us | Contact | Subscribe

UN imposes tough new sanctions on North Korea

UNITED NATIONS — The U.N. Security Council unanimously approved tough new sanctions Saturday to punish North Korea for its escalating nuclear and missile programs including a ban on coal and other exports worth over $1 billion — a huge bite in its total exports, valued at $3 billion last year.

U.S. Ambassador Nikki Haley called the resolution “the single largest economic sanctions package ever leveled against the North Korean regime” and “the most stringent set of sanctions on any country in a generation.”

But she warned that it is not enough and “we should not fool ourselves into thinking we have solved the problem — not even close.”

“The threat of an outlaw nuclearized North Korean dictatorship remains … (and) is rapidly growing more dangerous,” Haley told council members after the vote.

The U.S.-drafted resolution, negotiated with North Korea’s neighbor and ally China, is aimed at increasing economic pressure on Pyongyang to return to negotiations on its nuclear and missile programs — a point stressed by all 15 council members in speeches after the vote.

The Security Council has already imposed six rounds of sanctions that have failed to halt North Korea’s drive to improve its ballistic missile and nuclear weapons capabilities.

The resolution’s adoption follows North Korea’s first successful tests of intercontinental ballistic missiles capable of reaching the United States on July 3 and July 27.

It condemns the launches “in the strongest terms” and reiterates previous calls for North Korea to suspend all ballistic missile launches and abandon its nuclear weapons and nuclear program “in a complete, verifiable and irreversible manner.”

The centerpiece is a ban on North Korea exports of coal, iron, lead and seafood products — and a ban on all countries importing these products, estimated to be worth over $1 billion in hard currency.

The resolution also bans countries from giving any additional permits to North Korean laborers — another source of money for Kim Jong Un’s regime.

And it prohibits all new joint ventures with North Korean companies and bans new foreign investment in existing ones.

 

Rules for posting comments