UN imposes new $1billion sanctions on North Korea

THE United Nations Security Council unanimously approved new sanctions on North Korea yesterday which include banning exports worth over $1billion.

The move to reduce its export revenue by a third is in response to Pyongyang’s two intercontinental ballistic missile tests last month.

The resolution, adopted yesterday afternoon, will also ban countries from giving any additional permits to North Korean laborers – another source of money for Kim Jong Un’s regime.

The US-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 programmes.

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

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

The United States “is taking and will continue to take prudent defensive measures to protect ourselves and our allies” from the threat posed by North Korea, US Ambassador to the United Nations Nikki Haley said yesterday evening.

“The North Korean threat... is rapidly growing more dangerous,” she told the UN Security Council after the 15-member body unanimously voted to impose new sanctions.

“Further action is added. required,” she