U.N. Security Council Unanimously Sanctions North Korea For Conducting 6th Nuclear Test

The U.N. Security Council in a unanimous decision imposed a new round of sanctions on North Korea on Monday for carrying out its 6th nuclear test on September 3rd, which the U.S. geological society declared had triggered a 6.3 magnitude earthquake near the nuclear test site and South Korean authorities later admitted that the earthquake seemed to be artificial and consistent with a nuclear test.

The U.N. Security Council adopted on Monday Resolution 2375 against the Democratic People’s Republic of Korea that bans the sale of natural gas liquids to the isolated Asian nation, textile exports, and prohibits Member States from providing work authorizations to North Korean nationals.

The Security Council condemned in strongest terms Pyongyang’s latest nuclear test, declaring that the action stood in flagrant disregard of its resolutions and reaffirmed that the Democratic People’s Republic of Korea must immediately suspend all activities related to its ballistic missile and nuclear programs in a complete, verifiable and irreversible manner.

Besides the ban on the sale of natural gas and textiles, the Security Council also decided that all Member States would prohibit the direct, indirect supply, sale, or transfer to North Korea of all refined petroleum products beyond 500,000 barrels during an initial period of 3 months, beginning on October 1, 2017 and ending on December 31, 2017 and exceeding 2 million barrels in a 12 month period beginning on January 1, 2018 and annually thereafter.

Japan’s U.N. Ambassador Koro Bessho said that Monday’s new resolution against the Democratic People’s Republic of Korea would “strengthen the sanctions imposed on that country to an unprecedented level, with the ban on textile experts expected to reduce its revenues by $800 million while cutting its oil imports by approximately 30 per cent.”

South Korea’s Ambassador to the U.N. Cho- Tae-Yul said that the new sanctions would substantially reduce the oil supply to the Democratic People’s Republic of Korea, and result in the loss of its 2 largest sources of income: textile exports and overseas laborers.

The United States co-sponsored Resolution 2375.

U.S. Ambassador to the U.N. Nikki Haley said that Resolution 2375 built on what were already the deepest cutting sanctions ever leveled against North Korea and weaken the funding resources for its nuclear program.

“The resolution hit Pyongyang’s ability to fuel and fund its nuclear program, and would reduce by almost 50 per cent its supply of gas, diesel and heavy fuel oil” said U.N. Ambassador Haley who added that “it also completely banned natural gas and other products that could be used as a substitute for those fuels.”

Ambassador Haley tweeted on Monday,  “The UN Security Council unanimously adopted the strongest sanctions ever against North Korea: #15-0”

The Security Council called for a resumption of the 6 Party Talks involving China, the Democratic People’s Republic of Korea, Japan, Republic of Korea, Russia Federation, and the United States while extending its commitment to a peaceful, diplomatic, and political solution to the situation on the Korean Peninsula.

On August 5th the U.N. Security Council unanimously adopted Resolution 237  in response to North Korea’s ballistic missile tests conducted on July 3rd and July 28th.

The resolution targeted North Korea’s fossil fuel industry with bans on the export of coal, iron, iron ore, lead, lead ore, and also seafood.

North Korea is estimated to earn approximately $3 billion per year from export revenues with coal generating the highest level of revenue over $401 million a year.

Also included in the August 5th sanctions list were a mixture of other sanctions involving North Korea’s arms smuggling, joint ventures with foreign companies, banks, and other sources of revenue.

Written and Edited By:

Johnathan Schweitzer

@SchweitzFinance

schweitz31@gmail.com

 

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