Sanctions won’t stop us, says N Korean economist

WASHINGTON: Neither the change in leadership in the US, nor sanctions imposed by the UN Security Council, will impede North Korea’s economic and military advancement, according to an economist from Pyongyang.

Ri Gi Song, a researcher of the Institute of Economics at the Academy of Social Sciences, told CNN on Friday that sanctions weren’t having an adverse impact on the country’s military programme.

“No, the sanctions are not slowing down our nuclear and missile development,” he said, adding “Rather we are going faster, we are increasing further the capability of our national defence with nuclear part as its main core.”

The latest round of sanctions were imposed in November by the Security Council following the country’s fifth nuclear test.

North Korea test-fired a new ballistic missile on Sunday, the first since President Donald Trump took office in January.

The launch was condemned by Japanese Prime Minister Shinzo Abe as “absolutely intolerable” during a press conference with Trump, and prompted responses from South Korea, China and Russia.

Speaking exclusively to CNN in Pyongyang, Ri said that the government would “continue to strengthen our nuclear capability as along as the United States continues its hostile policy against North Korea.”

Ri said restrictions on North Korea’s ability to sell raw materials, including coal, has not impeded the country’s economic growth.

“The basic principle in terms of exporting raw materials is simply we don’t promote the export of raw materials including coal,” he said.

“As a result of that particular principle... we don’t feel very much affected by the so-called restrictions in the export of coal.”