US Weakens Resolution on North Korea to Gain Chinese and Russian Support

UN experts: NKorea exported $270 million illegally recently

UN experts: NKorea exported $270 million illegally recently

The North Korean regime has not yet passed the point of no-return", Haley told the council, adding: "If North Korea continues its unsafe path, we will continue with further pressure.

In a decision backed by China and Russian Federation, the UNSC has put a ban on textile exports and has also restricted the shipment of oil products.

But that might be about to change.

"North Korea has set its sights on the so-called next generation financial markets, including virtual currencies, pin-tech and blockchains", he told journalists last week.

Countries that have provided work permits for the North Koreans are asked to report to the United Nations the number of guest workers they have employed and the date for ending those contracts.

"However, it's just as well that the global community adopted this sanctions resolution by consensus", he said.

The resolution instead bans trade in textiles, cuts off natural gas shipments to North Korea, places a ceiling on deliveries of refined oil products and caps crude oil shipments at current levels.

She added: "The North Korean regime has not yet passed the point of no return".

"Today we are saying the world will never accept a nuclear armed North Korea", Haley said.

Peru's announcement follows a similar move by Mexico last week and U.S. Vice President Mike Pence's public call last month for Latin American nations to isolate Pyongyang. The North Korean regime has demonstrated that it will not act on its own to end its nuclear program.

The fresh sanctions are said to have six main goals - to cap North Korea's oil imports, ban textile exports, end additional overseas labour contracts, suppress smuggling efforts, stop joint ventures with other nations and sanction designated North Korean government entities, according to a USA official.

Meanwhile, ahead of the sanctions, Pyongyang has warned Washington that if harsh sanctions are imposed on North Korea, the U.S. would have to pay a "due price" for it.

"The DPRK is ready and willing to use any form of ultimate means", a statement from the Government of North Korea said, referring to the country by its acronym.

Han added that the DPRK is "ready to use a form of ultimate means" adding 'the forthcoming measures by DPRK will make the USA suffer the greatest pain it ever experienced in its history'.

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