The U.S. is pushing the UN Security Council to vote Saturday on sanctions that would slash North Korea’s annual export revenue by a third.
The resolution is being sought in response to the isolated nation’s continued missile tests.
A draft of the resolution, obtained by Reuters, seeks to hamper North Korea’s export revenue by banning the country’s trade of coal, iron, lead and seafood. The deal would cut the communist country’s exports by nearly $ 1 billion.
The measure would also prohibit countries from increasing the current numbers of North Korean laborers working abroad, new joint ventures with North Korea and any new investment in current joint ventures, according to Reuters.
U.S. calls on UN to toughen sanctions against North Korea
China is reportedly on board with the new sanctions, but Russia is stalling on moving the measure forward.
A resolution needs nine ‘yes’ votes, and no vetoes by the U.S., China, Russia, France or Britain, to be adopted by the UN security council.
It’s not clear if recent sanctions against Moscow signed into law by President Trump have soured the Kremlin to working with the U.S.
Russia has maintained that recent missile tests by Pyongyang were mid-range, not long-range, as the U.S. and others have said.
U.S. travel ban on North Korea to begin Sept. 1
Many experts believe that an intercontinental ballistic missile launched by North Korea last week had the capability of reaching major U.S. cities including Los Angeles, Denver and even Chicago.
The U.S. and China have been working on the draft resolution for over a month.
Trump has publicly voiced his frustrations with China to do more to punish North Korea for its combative actions — even threatening sanctions against Chinese firms doing business with Pyongyang.
“(The draft) appears to reflect a compromise between the U.S. and China in several areas,” Bonnie Glaser, senior adviser for Asia at the Center for Strategic and International Studies, told Reuters. “It notably does not include any reduction in Chinese crude oil shipments to North Korea.”
North Korea’s nukes are the United States’ problem
UN sanctions against North Korea have been in place since 2006 as the country continues to ramp up its nuclear weapons and ballistic weapons tests.
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