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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2397

UN Security Council impose new sanctions on North Korea

New York, 06 August, (Asiantribune.com): T

The United Nations Security Council imposed new sanctions on North Korea on Saturday that could slash by a third the Asian state's $3 billion annual export revenue over Pyongyang's two intercontinental ballistic missile tests in July.

The U.S.-drafted resolution bans North Korean exports of coal, iron, iron ore, lead, lead ore and seafood. It also prohibits countries from increasing the current numbers of North Korean laborers working abroad, bans new joint ventures with North Korea and any new investment in current joint ventures.

The unanimously adopted resolution adds nine individuals and four entities to the U.N. blacklist, including North Korea's primary foreign exchange bank, subjecting them to a global asset freeze and travel ban.

US Ambassador to the UN, Nikki Haley, speaking at the Security Council meeting where the vote took place, said, "Monday, we said that the time for talking was over and that it was time for action. Today you're going to see the action. It's going to hit hard but it's going to make a strong point to North Korea that all this ICBM and this nuclear irresponsibility has to stop."

With 15 votes in favor, the draft resolution was passed unanimously.

- Asian Tribune -

 Nikki Haley - US Ambassador to the UN
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