New UN sanctions are 'nothing compared to what will have to happen'

UN Security Council Set To Vote On New Sanctions Against North Korea

UN Security Council Set To Vote On New Sanctions Against North Korea

The resolution is created to accomplish six major goals: cap North Korea's oil imports, ban textile exports, end additional overseas laborer contracts, suppress smuggling efforts, stop joint ventures with other nations and sanction designated North Korean government entities, according to a United States official familiar with negotiations.

"We need to use every ounce of leverage... to put maximum pressure on this rogue regime", he said, adding that "time is running out".

Although the new sanctions are the harshest yet, they could have been a lot tougher.

30 November 2016: United Nations targets North Korea's valuable coal trade with China, slashing exports by about 60 percent under a new sales cap.

"The final resolution is not demanding sanctions against North Korea's top leaders, the government and the Workers' Party of Korea, neither is it imposing a complete ban on oil and oil products supplies in North Korea", the ministry said.

In Hong Kong, former White House chief strategist Steve Bannon told the South China Morning Post the results of a US-led investigation into alleged Chinese intellectual property theft would be announced before the Beijing summit to reset bilateral trade. "The consequences would be totally unpredictable and certainly dramatic for the people of the Korean peninsula, the region and most likely the world", she told MEPs.

George, now the latest on the showdown with North Korea over its nuclear program.

Earlier this year, China, its only ally, also suspended coal exports from North Korea.

The decision came after Pyongyang's sixth and strongest nuclear test on September 3. Monday's vote was only passed unanimously after Pyongyang allies Russian Federation and China agreed to the reduced measures.

But Liu Ming, a North Korean affairs analyst from the Shanghai Academy of Social Sciences, said technical factors with the pipeline were real and "could not be ignored".

"The resolution adopted by the security council today reflects this principle of three commitments and demonstrates the unanimous position of the global community of opposing DPRK's development of its nuclear and ballistic missile capabilities".

He said the Norths access to hard currency was its “Achilles heel.” He urged the administration to “dramatically ramp up” US sanctions designations of entities that deal with North Korea, particularly Chinese banks.

As China has been the major supplier of oil to North Korea, the new resolution would have little impact on Chinese oil exports to the country, since the exports would be capped at recent export levels over the past 12 months.

"We've been played by the Kims for years", Republican Representative Ted Poe said, referring to North Korean leader Kim Jong Un and his predecessors.

The US wanted a complete ban on oil exports to North Korea, immediate end to employment of an estimated 93,000 of its citizens overseas, forcible boarding of ships trading with that country to check for contraband, and restrictions on UN. Back in August, the United Nations banned North Korean exports of materials such as coal and ore. It also limits oil exports to the isolated country.

US Ambassador to the UN Nikki Haley said the new sanctions would "starve the regime" into stopping its nuclear program. The country vowed to establish a "practical equilibrium" with the United States, it said.

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