United Nations set for vote after U.S. softens North Korea sanctions

Merkel Suggests Iran Style Nuclear Talks on N. Korea

Merkel Suggests Iran Style Nuclear Talks on N. Korea

Attempts to slowly choke off the flow of funds to and from North Korea come after the USA sanctioned a Chinese industrial machinery wholesaler that it said was acting on behalf of a Pyongyang bank already sanctioned by the United Nations for supporting the proliferation of weapons of mass destruction.

"The forthcoming measures by DPRK [the Democratic Republic of Korea] will make the United States suffer the greatest pain it has ever experienced in its history", Pyongyang's ambassador in Geneva told the UN Conference on Disarmament in the first North Korean reaction to Monday's unanimous vote.

But despite the United States assessment that these are the strongest measures ever imposed on North Korea, some experts said that their impact will only be effective if paired with additional sanctions.

Early Monday, North Korea said it would not accept any chastisement over its nuclear and missile program, which it says is vital to stave off the threat of an American invasion.

It's hardly surprising that Beijing empathises with North Korean insecurity, given that for decades it suspected the USA of plans for containment and regime change to remove the Chinese Communist Party.

The North flight-tested its developmental Hwasong-14 ICBMs twice in July and analysis of flight data suggested that the missiles could reach deep into the U.S. mainland when perfected.

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The UN sanctions passed against North Korea on Monday bans textile exports and restricts shipments of oil products to Pyongyang.

Specifically, this 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 U.S. official told CNN.

We should be clear about what sanctions are, and what they are not. However, the new resolution has set a cap on crude oil exports to North Korea at current levels.

George Lopez, a former member of the UN Security Council panel of experts for sanctions on North Korea, said that the USA should seek unity of message with China and Russian Federation in addition to a unanimous vote on sanctions.

At Agricultural Bank of China, a teller at a branch in Dandong, a north-eastern Chinese city that borders North Korea, said North Koreans could not open accounts.

Japan's representative at the UNSC Koro Bessho said oil imports will be cut by approximately 30 per cent and the ban on textile exports is expected to reduce North Korea's revenues by $800 million.

N. Korea warns United States of 'greatest pain,' rejects new United Nations sanctions
North Korea has been hit by a new set of United Nations sanctions following the country's latest nuclear test on 3 September. The Democratic People's Republic of Korea (DPRK) is "ready to use a form of ultimate means", said Han without elaborating.

It said: "The US needs to switch from isolation to communication in order to end an "endless loop" on the Korean peninsula where nuclear and missile tests trigger tougher sanctions and tougher sanctions invite further tests".

Both Beijing and Moscow had strong words for Washington.

US Ambassador to the United Nations Nikki Haley has called the proposal insulting.

Kim Hyun-Wook, professor at the Korea National Diplomatic Academy, warned there are "no means to check how much crude oil is delivered through the pipeline" between China and North Korea. Russia's envoy said Washington's unwillingness to have UN Secretary General Antonio Guterres try to resolve the dispute "gives rise to very serious questions in our minds".

South Korea signed the Nuclear Non-Proliferation Treaty in 1968.

A United Nations report published at the weekend said Pyongyang collected at least $270 million over a six month-period this year by exporting "almost all of the commodities prohibited" by existing sanctions.

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Despite repeated sanctions from the UN, Pyongyang's economy grew at its fastest pace in 17 years in 2016, South Korea's central bank observed last year.

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