North Korea hit by new United Nations sanctions

Military parade in North Korea
Pyongyang Threatens US With'Greatest Pain If UNSC Adopts Sanctions Resolution Sputnik Iliya Pitalev
Author

12 September, 2017

Russian Federation and China both have veto power as permanent members of the Security Council and had expressed skepticism over the initial sanctions proposal.

The UN Security Council during an emergency meeting over North Korea's latest nuclear test, on 4 September 2017, at UN Headquarters in NY.

The foreign ministry said Monday that it chose to expel Ambassador Kim Hak-chol because of Pyongyang's repeated flaunting of resolutions by the U.N. Security Council against its nuclear program.

On Monday, the U.S. circulated a draft resolution that called for a full ban on exports of oil to North Korea and an asset freeze on leader Kim Jong Un, the Worker's Party and the government of North Korea. The jury is still out on whether North Korea tested, as it claims, a hydrogen bomb ready to be mounted on an ICBM.

A USA official, familiar with the council negotiations and speaking on condition of anonymity, told Reuters North Korea imported some 4.5 million barrels of refined petroleum products annually and four million barrels of crude oil. That initiative was rejected by the Trump administration.

The US had initially proposed a complete oil embargo and also said that the foreign accounts of North Korean leader Kim Jong-un should be frozen.

On September 3, the North Korean Army carried out its sixth and most powerful nuclear test with a hydrogen bomb, which triggered a strong condemnation of the worldwide community and raised tensions in the region. And the new measure adds a caveat to 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.

The US had initially sought the implementation of stronger measures against North Korea, including bans on oil imports, textile exports and employing guest workers from the isolated nation.

China had long anxious that an oil cutoff altogether would lead to North Korea's collapse.


More news


  • MAN JOB: Tre Bryant carrying RB load for Huskers so far

    MAN JOB: Tre Bryant carrying RB load for Huskers so far

    For Riley, his group is coming off their first loss of the season, after they fell to OR 42-35 on Saturday. He said he's found that backs tend to get stronger as the game continues.
    Airlines prepare to cancel flights in Hurricane Irma's path

    Airlines prepare to cancel flights in Hurricane Irma's path

    JetBlue, American Airlines, and Delta have all announced capped prices, with JetBlue dropping rates down to $99 on some flights. American will wind down operations in Orlando, which is a three and a half hour drive north from Miami , by 2 p.m. on Saturday.
    United Nations  says 313000 Rohingya have fled to Bangladesh

    United Nations says 313000 Rohingya have fled to Bangladesh

    Australia restored its defence ties with Myanmar in 2014 after the country began to reform after decades of brutal military rule. The last of those refugees arrived in Australia last month.
  • Irma spins up funnel clouds, tornado in Florida

    Irma spins up funnel clouds, tornado in Florida

    Katia's remnants led to a mudslide that killed two people Saturday in Xalapa, a city in the Mexican coastal sate of Veracruz, Gov. Petersburg-based Duke Energy , with almost 1.8 customer accounts, was working to restore power to 1.2 million customers.
    United Nations  passes fresh sanctions on North Korea

    United Nations passes fresh sanctions on North Korea

    The US, however, is believed to have compromised on these demands to ensure support from China and Russian Federation . It also followed a decision by Mexico last week to expel the North Korean ambassador on its territory.
    Securities Analyst Recommendations: Wyndham Worldwide Corporation (WYN), HollyFrontier Corporation (HFC)

    Securities Analyst Recommendations: Wyndham Worldwide Corporation (WYN), HollyFrontier Corporation (HFC)

    Also, it has an estimated price-earnings (P/E) multiple of 13.87 and a trailing 12-month price-earnings (P/E) multiple of 18.02. Schwartz Investment Counsel Inc decreased Graham Hldgs Co (NYSE:GHC) stake by 2,900 shares to 6,300 valued at $3.23M in 2016Q4.
  • Harvey aid, debt limit hike and government funding sails through Senate

    Harvey aid, debt limit hike and government funding sails through Senate

    The House is expected to sign off on the combo legislation this week, though likely with heavy Republican opposition . Ben Sasse, R-Neb., made a move to remove the debt limit language.
    Florida Hurricane Irma Evacuee Named Her Newly Delivered Baby 'Storm'

    Florida Hurricane Irma Evacuee Named Her Newly Delivered Baby 'Storm'

    After wreaking havoc on several islands in the Caribbean, Hurricane Irma made landfall in the United States by hitting Florida . The Atlanta area's forecast predicts sustained winds over 40 miles per hour, which can cause downed trees and power outages .
    Jose, Katia are now hurricanes

    Jose, Katia are now hurricanes

    Yunes said Saturday that there were no other reports of major damage, though he said some rivers had risen to near flood stage. Airlines have not yet issued any updates on flight cancellation or change waivers as a result of the two storms at this time.
  • Is Honeywell International Inc. (HON) Sell Now?

    Hanson McClain grew its position in stocks of Honeywell International by 0.4% in the Q1. (NYSE:HON) for 8,400 shares. The stock of GrubHub Inc (NYSE:GRUB) has "Buy" rating given on Tuesday, September 5 by KeyBanc Capital Markets.
    Girl Dies After Falling Off Palisade Head

    Girl Dies After Falling Off Palisade Head

    The Duluth Tribune says bystanders were forced to rappel down the cliff to provide aid until first responders arrived. The last fatal fall from Palisade Head occurred in 2010, when Margaret O'Leary, 48, slipped off the cliff.
    Tyler Zeller finalizing 2-year deal with Nets

    Tyler Zeller finalizing 2-year deal with Nets

    He first entered the league as the 17th overall pick of the Dallas Mavericks in the 2012 NBA Draft out of North Carolina. The veteran big man fell out of favor a year ago , averaging a career-low 10.3 minutes per game.