UN Security Council Approves Toughest North Korea Sanctions So Far

UN Security Council Approves Toughest North Korea Sanctions So Far

The United Nations Security Council has voted unanimously to approve tougher sanctions on North Korea, including a ban on exports worth at least $1 billion.

China believes that these form part and parcel of Saturday's resolution and that all of the parties should implement the provisions contained in the resolution fully and earnestly, the ambassador said.

"Our objective is to bring all parties involved in the nuclear issues back to the negotiating table, finding the resolutions through talks to realize the denuclearization of the Korean Peninsula", Wang said Sunday on the sidelines of the Association of South-East Asian Nations (ASEAN) meetings in Manila.

Coal revenues accounted for around 40% of North Korea's export earnings in 2016, at a value of nearly USD1.2 billion, according to the US Energy Administration.

Haley said before entering the chamber to vote.

The resolution's adoption follows North Korea's first successful tests of intercontinental ballistic missiles capable of reaching the United States on July 3 and July 27.

The measure was drafted by the US and negotiated with South Korea and China.

He also called for halting the deployment of the THAAD missile defense system in South Korea, saying it will not resolve the North Korean nuclear stalemate.

It adds nine North Koreans, mainly officials or representatives of companies and banks, to the United Nations sanctions blacklist, banning their travel and freezing their assets.

Representatives from Southeast Asian countries plan to discuss at the summit what other action to take in response to North Korea's recent missile tests.

They should be accountable to their people and regional peace in making such choices, he noted.

The resolution would ban Pyongyang's exports of coal, iron, iron ore, lead, lead ore and seafood.

"I think the administration has said and will continue to say that North Korea has acted recklessly, irresponsibly, and it has to stop", Haley said.

While the draft resolution would impose biting economic sanctions, the US didn't get everything it wanted.

The council diplomat, who was not authorized to speak publicly and insisted on anonymity, called the newly sanctioned Foreign Trade Bank "a very critical clearing house for foreign exchange".

Oil was not included in the draft resolution and neither are new air restrictions.

Russian Federation and China have advocated a freeze-for-freeze approach, whereby the US and South Korea would halt their military exercises and North Korea would do the same. "This was a strong day in the UN, it was a strong day for the United States and it was a strong day for the worldwide community".

The resolution reiterates language from previous ones supporting a return to six-party talks with the goal of denuclearizing the Korean Peninsula; expressing the Security Council's commitment "to a peaceful, diplomatic and political solution to the situation"; and stressing the importance of maintaining peace and stability in northeast Asia.

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