Germany's Merkel plans phone call with Russia's Putin to discuss North Korea

CHINA-DIPLOMACY-BRICS

The sanctions follow a series of North Korean missile tests in recent months, culminating in an intercontinental ballistic missile that appeared to bring much of the United States mainland into range.

North Korea's top envoy in Geneva condemned the latest round of United Nations Security Council sanctions against Pyongyang, describing the embargoes as an "illegal" measure.

According to a recent study by the Nautilus Institute think tank, a massive cutback in the flow of oil from China would definitely hurt the North Korean economy, and especially average citizens.

The question next becomes how North Korea will respond. The U.N. Security Council will vote on the newly-proposed sanctions Monday evening, which are not heavily "watered down" according to multiple reports.

The world-and the stock market-reacted to North Korea's new threat against USA should the latter push through with its threats and compel the United States to issue even harsher economic sanctions against them. Haley has dismissed it as insulting.

Despite the weakened penalties, Haley cast the resolution as a victory in her Security Council remarks.

China's United Nations ambassador, Liu Jieyi, called for a resumption of negotiations "sooner rather than later".

China's UN Ambassador Liu Jieyi called on North Korea to "take seriously the expectations and will of the worldwide community" that it halt its nuclear and ballistic missile development, and called on all parties to remain "cool-headed" and not stoke tensions. But on Sunday the North warned that it would inflict the "greatest pain and suffering" on the United States, in the event of tougher global sanctions.

"The world will witness how (North Korea) tames the USA gangsters by taking a series of actions tougher than they have ever envisaged", the foreign ministry said in a statement carried by the official KCNA news agency. The spike in activity began soon after the US said it planned to ratchet up sanctions against North Korea.

She also said that while the U.S. is "not looking for war", if Kim continues to develop nuclear weapons, "we will continue with further pressure".

"This is a compromise in order to get everybody on board", French U.N. Ambassador Francois Delattre said of the draft ahead of the vote.

There are also restrictions on textiles, which are North Korea's second-biggest export after coal and other minerals. Almost 80 per cent went to China.

The resolution is a water-down version of the original United States proposal, but it does ban North Korea from importing all natural gas liquids and condensates, as well as bans all textile exports and prohibits all countries from authorising new work permits for North Korean workers.

That was the result of opposition from China and Russian Federation, which are wary of putting too much economic pressure on North Korea.

Haley said the Trump administration believes the new sanctions combined with previous measures would ban over 90 percent of North Korea's exports reported in 2016.

He said the labor restriction would be nearly impossible to police and that trade statistics greatly overstated North Korea's earnings from textiles.

"They give us a much better chance to halt the regime's ability to fuel and finance its nuclear and missile programmes".

"I worry about the threat from North Korea in the sense that we have a place that is now on the cusp of having the capacity we'd hope they'd never have", Pompeo continued, "with a leader who makes decisions, at the very least, in a very, very tight circle, in which we have limited access". The council banned North Korean textile exports, an important source of hard currency, and capped its imports of crude oil, although the sanctions were not as harsh as the USA had hoped.

"This ban will eventually starve the regime of an additional $US500 million ($623 million) or more in annual revenues". It also allows states to inspect vessels on the high seas suspected of carrying items prohibited by the sanctions regime.

But China, which sends crude oil to its smaller neighbor through a pipeline, stopped disclosing the amount it ships more than three years ago. "But we all know these steps only work if all nations implement them completely and aggressively", she said.

Last Sunday, Pyongyang said it conducted a hydrogen bomb test at its Punggye-ri nuclear test site in the country's northeast, which it claimed can fit on an intercontinental ballistic missile (ICBM) capable of reaching the United States.

Related:

Comments


Other news