The UN Security Council has unanimously adopted a new resolution aimed at penalizing North Korea for its nuclear weapons program.
The sanctions cut the country’s annual revenue by about US$800 million through limits on the amount of coal it can export, the Wall Street Journal reports.
The resolution was supported by China, North Korea’s closest ally, which said the security situation in the region had grown “dire”.
The new sanctions will cap North Korea’s coal exports at about US$400 million or 7.5 million metric tons a year.
Also banned are exports of copper, nickel, silver and zinc, which provide an additional US$100 million a year in revenue, and the sale of artistic statues, which generates tens of millions.
The resolution also bans income from properties owned by North Korea abroad; further restricts banking transactions; and designates 10 individuals and 11 entities involved in nuclear and ballistic-missile programs for sanctions.
The resolution tightens restrictions on transportation to and from North Korea and bans sales of new nautical vessels and helicopters. It prohibits countries from dealing with any vessels flagged by North Korea and requires all cargo—including passenger luggage, to be inspected.
For three months, diplomats, led by the US, negotiated over how to punish North Korea for repeated violations of UN sanctions banning the country from firing ballistic missiles and conducting nuclear tests. North Korea conducted its last and largest nuclear test on Sept. 9.
The last round of UN sanctions, in March, had failed to deter North Korea. Provisions meant to prevent the suffering of ordinary people by allowing certain types of trade were exploited by government officials to the benefit of the state, US officials said.
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