United Nations imposes new sanctions on North Korea, Pyongyang warns U.S. of consequences

United Nations imposes new sanctions on North Korea, Pyongyang warns U.S. of consequences

The UN Security Council on Monday unanimously approved sanctions to be imposed on North Korea.

"The government in Washington is obsessed with kindling a political, economic and military confrontation in an attempt to suppress our nuclear capabilities, which have reached the last stage", the ambassador stated, also criticizing the resolution to impose additional sanctions on his country.

In Changchun, the regional capital of Jilin Province, a Bank of China staff member said, "all bank activities related to North Korea are suspended now because it is a sanctioned country".

Infact, both China and Russian Federation have proposed a freeze-for-freeze stance, where North Korea can be asked to curb its nuclear program in return of USA and South Korea stopping their military practices. "As such, it appears that Velmur, while registered as a real estate management company, is in fact a North Korean financial facilitator". Aggravating the matter was the North Korean government's own pronouncement that their missiles were capable of reaching USA shores.

As for energy, it 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 two million barrels a year.

Bitcoin and other forms of virtual money - known as cryptocurrencies - appeal to North Korea as the USA pursues global sanctions aimed at further isolating the country, according to a new report from FireEye. But FireEye points out that hackers can swap them into other, more anonymous cryptocurrencies - or move them elsewhere and eventually withdraw them in traditional currencies like South Korean won or USA dollars.

Existing North Korean account holders could not deposit or remove money from their accounts, the BoC bank teller said. It should not be long before North Korea develops the capability to miniaturise its nuclear weapons and fit them to its intermediate and long-range missiles.

UN Security Council Set To Vote On New Sanctions Against North Korea
United Nations imposes new sanctions on North Korea, Pyongyang warns U.S. of consequences

A United States official, familiar with the council negotiations and speaking on condition of anonymity, said North Korea imports some 4.5 million barrels of refined petroleum products annually and four million barrels of crude oil.

New bans on textile exports and overseas workers sending hard currency back to Pyongyang would starve the regime of at least 1.3 billion dollars in annual revenues - an estimated 800 million and 500 million dollars respectively, Haley said. In a statement released after the sanctions were imposed, North Korea's foreign ministry iussued a statement saying that North Korea is closely watching United States.

Beijing and Moscow have called for a freeze-for-freeze agreement with North Korea, which would see the United States and South Korea halt military drills on the Korean Peninsula in exchange for Pyongyang stopping its nuclear and ballistic missile program. "The Chinese may be fed up with North Korea and willing to do more to increase the pressure".

Laura Rosenberger, who was the National Security Council director for Korea and China in the Obama administration, said Trump's fiery rhetoric and contradictory statements on Twitter about the direction of the USA policy toward North Korea are harming American credibility, on which deterrence depends. Russia's envoy said Washington's unwillingness to have U.N. Secretary-General Antonio Guterres try to resolve the dispute "gives rise to very serious questions in our minds".

Japanese Prime Minister Shinzo Abe welcomed the resolution saying it "made clear the will of the worldwide community" while Seoul said Pyongyang should accept the United Nations resolution as a "strict warning".

In any such talks, the first issue that Beijing may wish to talk about is who would control North Korea's nuclear weapons arsenal.

More news: Claudio Bravo: 'Alexis Sanchez bitter over failed Manchester City move'

Related Articles