NK Sanctions Resolution

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The UN Security Council is expected to adopt a new sanctions resolution on North Korea on Wednesday local time in response to its 5th nuclear test in September. We have the details in our first story.

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The new North Korea sanctions resolution pushed by the UN Security Council is focused on complementing the previous Resolution 2270. Until now, North Korean coal exports for public livelihood purposes were allowed. Reports say the new resolution will revise this and likely put a cap on the North's annual coal exports at 7.5 million tons or 400 million dollars, whichever is the smaller amount of shipments. Reuters News said the resolution also added copper, nickel, silver and zinc to the list of minerals the North is banned from exporting. With the new punitive measures, the UN Security Council expects to reduce a further 100 million dollars worth of North Korean exports each year. The resolution also reportedly bans Pyongyang's exports of statues, requires UN member states to decrease the number of staff members at North Korea's overseas missions and also limit bank accounts for North Korean officials. The United States and China first agreed on the draft resolution which was then shown to the other three permanent members of the Security Council. Russia is known to have also recently consented to the new resolution.