U.N. vote on U.S. bid to slash N.Korea exports over missile tests

Click For Larger Image & Read More
U.N. vote on U.S. bid to slash N.Korea exports...
 © In-Cyprus 2020
The United Nations Security Council is set to vote on Saturday on a U.S.-drafted resolution that aims to slash by a third North Korea ‘s $3 billion annual export revenue over Pyongyang’s two intercontinental ballistic missile (ICBM) tests in July.

A council diplomat, speaking on condition of anonymity, said there was a “high confidence” that North Korea ally China and Russia would support the draft resolution, which was circulated to the 15 Security Council members on Friday.

The council is due to vote at 3 p.m. EDT (1900 GMT). A resolution needs nine votes in favor, and no vetoes by the United States, China, Russia, France or Britain, to be adopted.

The draft resolution would ban North Korea ‘s exports of coal, iron, iron ore, lead, lead ore and seafood. It would also prohibit countries from increasing the current numbers of North Korea n laborers working abroad, ban new joint ventures with North Korea and any new investment in current joint ventures.

“These are export sectors where this money is viewed as a critical, critical source of hard currency that the North immediately turns around into its fantastically expensive war machine and these just amazingly expensive ballistic missile and nuclear weapons programs,” the diplomat said.

“These sanctions are not targeted at the people of North Korea ,” the diplomat said.

U.S. PRESSURE ON CHINA

The draft resolution would also add nine individuals and four entities to the U.N. blacklist, including North Korea ‘s primary foreign exchange bank, subjecting them to a global asset freeze and travel ban.

The United States and China have been negotiating the draft text for the past month. Typically, they agree sanctions on North Korea before formally involving other council members.

U.S. President Donald Trump’s administration has been frustrated that China has not done more to rein in...


Read all latest: Cyprus Coronavirus News Updates - Live

This article was automatically added to our system 5-8-2017

U.N. vote on U.S. bid to slash N.Korea exports over missile tests


The contents of this article including any associated images are © In-Cyprus 2020
Views & opinions expressed in this article are those of the author and/or In-Cyprus .

Advertise Here

  Trending Cyprus News

Advertise Here

Article Tags: slash, korea, exports, missile, tests,