Monday, November 20, 2017

North Korean exports banned in new sanctions


Sanctions hit coal, iron, lead, seafood exports in bid to curb North Korea’s nuclear ambitions

The Associated Press
Posted: Aug 05, 2017 3:45 PM ET
Last Updated: Aug 05, 2017 3:45 PM ET

The UN Security Council has unanimously approved new sanctions on North Korea including banning exports worth over $1 billion US.

The resolution adopted Saturday afternoon would also ban countries from giving any additional permits to North Korean labourers — another source of money for Kim Jong Un’s regime.

The U.S.-drafted measure, negotiated with North Korea’s neighbour and ally China, is aimed at increasing economic pressure on Pyongyang to return to negotiations on its nuclear and missile programs.

It follows North Korea’s first successful tests of intercontinental ballistic missiles capable of reaching the United States last month.

The resolution bans North Korea from exporting coal, iron, lead and seafood products estimated to be worth over $1 billion. This represents one-third of its total exports last year, estimated at $3 billion.

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