A whole lot of people have been bothered by the activities of North Korea as the country has continued stubbornly to launch missile after missile in a quest to become a nuclear world power. North Korea’s new sanctions are the product of a lot of what now amounts to six nuclear device detonations and a number of missile launches.
Sanctions as a way to curb the activities of Kim Jong-un have been a discussion in political circles for a while. In fact, the Trump administration demanded rather strict penalties just a few days ago ahead of the United Nations Security Council meeting on Monday.
Although North Korea’s new sanctions from the United Nations Security Council meeting fell far short of the stricter measures proposed by President Trump’s administration, they are still pretty strict.
Washington and other capitals described the new sanctions as the most extensive sanctions yet but it is left to see whether they will be enough to stop Kim Jong-un and achieve the Trump administration goal which is “To force North Korea to halt its nuclear and ballistic missile tests and reopen some kind of negotiation toward eventual nuclear disarmament.”
The resolution of the sanctions won backing from all 15 council members although Russia and China objected to the original language calling for an oil embargo and other severe penalties. In fact, the two countries may have been the reason for the reduced measures.
North Korea’s New Sanctions
- The resolution will result in a 30% decrease in total oil imports by cutting off over 55% of refined petroleum products going to North Korea
- The resolution also bans the export of all textiles. The North Korean regime earned $760 million through those sales in 2016– making it the largest economic sector that UN Security Council had not yet touched.
- There are also new measures to prevent overseas workers from earning wages that finance the North Korean regime. It says that countries should not provide work authorization papers unless necessary for humanitarian assistance or denuclearization.
- Foreign investments, technology transfers, and other economic cooperation have been cut off
- Countries around the world will inspect ships going in and out of North Korea’s ports which limit North Korea’s ability to smuggle products like coal and iron, particularly on the high seas.
Although the resolution does not impose a travel ban or asset freeze on Kim Jong-un as the original American draft had set out, US ambassador to the UN Nikki Haley said following the vote on Monday that “These are by far the strongest measures ever imposed on North Korea, they give us a much better chance to halt the regime’s ability to fuel and finance its nuclear and missile programs, but we all know these steps only work if all nations implement them completely and aggressively.”