05 August, 2017
The draft resolution would ban North Korea's exports of coal, iron, iron ore, lead, lead ore and seafood.
The United States drafted the initial resolution and spent several weeks negotiating the text with China, North Korea's neighbor and ally.
The ban on exports could deprive the Pyongyang regime of $1 billion in annual revenue, roughly a third of its foreign currency earnings, according to a diplomat familiar with the negotiations.
The diplomat said oil was not included in the draft resolution and neither are new air restrictions.
The proposed new sanctions follow North Korea's first successful tests of intercontinental ballistic missiles capable of reaching the United States last month and are aimed at stepping up pressure on Kim to return to negotiations on his country's nuclear and ballistic missile programs.
A second launch on July 28 further raised alarm about Pyongyang's drive to develop a missile capable of hitting the U.S. mainland. It would also prohibit countries from increasing the current numbers of North Korean laborers working overseas, ban new joint ventures with North Korea and any new investment in current joint ventures.
The resolution also signals a shift by the US, which declined to call a meeting of the Security Council after North Korea tested a second intercontinental ballistic missile in July.
The new raft of measures would be the seventh set of United Nations sanctions imposed on North Korea since it first carried out a nuclear test in 2006, but these have failed to compel Pyongyang to change its behavior.
Two resolutions adopted a year ago however have introduced economic sanctions with more bite. Typically, they agree on sanctions on North Korea before formally involving other council members.
If the United Nations resolution is adopted, it will be the eighth North Korea sanctions resolution to date, this one completely blocking North Korean exports of coal, iron, iron ore, lead, lead ore as well as seafood.
The diplomat said the draft resolution would tighten existing measures, including by designating specific vessels that are breaking sanctions from entering ports all over the world and by working with INTERPOL to enforce travel bans.
The United States and its allies have argued that tougher sanctions are needed to force North Korea to come to the negotiating table to discuss a halt to its military programs.
Haley said on Sunday the United States was "done talking about North Korea" and China must decide if it is willing to back imposing stronger U.N. sanctions.
