North Korea slams 'vicious' US-led United Nations sanctions

North Korea 'ready and willing' to respond to sanctions imposed by US

North Korea 'ready and willing' to respond to sanctions imposed by US

Nikki Haley, left, USA ambassador to the United Nations, and Liu Jieyi, right, China's ambassador to the United Nations, vote in favor of a Security Council resolution to impose fresh sanctions on North Korea over its latest nuclear test at the UN headquarters in NY on Monday.

Prior to the approval, Trump and the US treasury secretary threatened to impose unilateral sanctions against any country that trades with North Korea if the Security Council was unable to come to an agreement.

This is the first time that the UNSC resolution has included restrictions on oil supplies to the North. Experts analyzed that it would lead to around a 30 percent reduction in total supplies of oil-related products to the North. It is hard to conclude that these new sanctions, though justified, will have a more meaningful bite than any previous round of sanctions and compel North Korea back to the negotiating table.

But it only caps Pyongyang's imports of crude oil at the level of the last 12 months, and it limits the import of refined petroleum products to 2 million barrels a year.

The sanctions actually approved by the UN Security Council are not to be laughed at, but they are still terribly inadequate if their aim is to get North Korean leader Kim Jong-un to give up his nuclear and missile programs.

In order the prevent North Korea from obtaining substitutes for refined products, the resolution also bans the sale of condensates - a low-density form of crude oil typically produced alongside natural gas - and natural gas.

"If it agrees to stop its nuclear programme, it can reclaim its future".

The new measures also bars countries from issuing new work permits to North Korean workers sent overseas, claiming the money made from these estimated 93,000 labourers helps fuel Kim Jong-un's regime.

"It seems that the United States and China, in particular, have reached a compromise in which the former wants to take tougher action against the North and the latter wants to avoid steps that could destabilize its ally", said Kim Keun-sik, a professor at Kyungnam University. Both nations condemned the nuclear testing of North Korea but did not support an oil embargo as well as the other harsh sanctions for fear that economic pressure might destabilize North Korea.

Chinese Ambassador Liu Jieyi again called for talks "sooner rather than later". Japan supports this US proposal and calls North Korea's nuclear activities is "the most serious threat since World War II".

Most go to China and Russian Federation, so the effects will depend on enforcement by Beijing and Moscow, said Koo.

Chinese foreign ministry spokesman Geng Shuang told reporters that Beijing "approves further reactions and necessary measures by the UN Security Council" in response to the nuclear test.

He said that both countries "believe there are other things that have to happen, including some that the Trump administration won't like". So far, there is no indication that the U.S. is interested in such talks.

North Korea warned the United States earlier on Monday that it would pay a "due price" for spearheading efforts on UN sanctions.

Ahead of the unanimous United Nations vote, the DPRK had said Monday the USA would pay the due price for spearheading the resolution.

DPRK is short for North Korea's official name, the Democratic People's Republic of Korea. With worldwide trade with North Korea increasingly constrained by United Nations sanctions, Russian entrepreneurs are seizing opportunities to make a quick profit, setting up a maze of front companies to hide transactions and launder payments, according to US law enforcement officials who monitor sanction-busting activity.

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