Published: Wed, September 13, 2017
Markets | By Noel Gibbs

N.Korea rejects latest United Nations sanctions as provocation

N.Korea rejects latest United Nations sanctions as provocation

The original bill submitted by the US was stricter in its limits; it specified a full ban on exports of oil to North Korea and an asset freeze on Kim Jung Un, the Worker's party and the government of North Korea.

The original US draft would have ordered all countries to impose an asset freeze and travel ban on Kim Jong Un and four other top party and government officials.

"We think it's just another very small step, not a big deal", Trump told reporters at the start of a meeting with Malaysian Prime Minister Najib Razak. He did not elaborate.

Mogherini said that as it always has, the European Union will immediately implement the new United Nations resolution, and work with other partners in the world to make sure everyone fully implements the economic sanctions. North Korea's sixth and largest nuclear test this month prompted the United Nations action.

"I don't know if it has any impact, but certainly it was nice to get a 15-to-nothing vote, but those sanctions are nothing compared to what ultimately will have to happen".

The Blue House welcomed the UN's sanctions resolution against North Korea and said that the crude oil supply "has been reduced by 30%, including the freeze, so we wouldn't say there was no progress".

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Russian Ambassador Vassily Nebenzia went further, making clear that while Russia supported the resolution, it wasn't entirely satisfied with the council's approach. Both nations have called for dialogue, something Trump has resisted.

The committee chair went on to say the USA could give Chinese banks and companies "a choice between doing business with North Korea or the United States". At the same time, they don't want Kim provoking the US into any action that could destabilize the region.

The US could impose economic sanctions on China if it does not implement the new sanctions regime against North Korea, the US Treasury Secretary has warned. But the detected xenon-133 is a radioactive isotope that does not occur naturally and which has been linked to North Korea's nuclear tests in the past.

Briefing the USA lawmakers, Marshall Billingslea, the Treasury Department's assistant secretary for terrorist financing, displayed satellite photos to demonstrate North Korea's deceptive shipping practices.

And while China accounts for 90% of North Korean exports, Billingslea said he "cannot assure the committee today that we have seen sufficient evidence of China's willingness to truly shut down North Korean revenue flows, expunge the North Korean illicit actors from its banking system, and expel the North Korean middlemen and brokers who are establishing webs of front companies".

The North's Rodong Sinmun also accused South Korea of being Washington's "puppet" on Wednesday, criticising Seoul's agreement with the United States to amend an existing bilateral guideline that will now allow the South to use unlimited warhead payloads on its missiles. The ship then docked in Vladivostok, Russia, before finally going to China to presumably unload its cargo. "We are doing that by hitting North Korea's ability to fuel and fund its weapons program".

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"The success of the pressure strategy will depend on cooperation from global partners, especially Beijing", said Susan Thornton, America's top diplomat for East Asia. "The United States has been able to deter and detain way more powerful nuclear actors, like Russian Federation and China, for 50 plus years now, and in principle there's no reason why we shouldn't be able to contain and deter North Korea from engaging in nuclear war".

Those tools include more sanctions.

North Korea threatened the USA by saying it will suffer the greatest pain.

The original US draft would also have frozen the assets of North Korea's state-owned airline Air Koryo, the Korean People's Army and five other powerful military and party entities.

Pyongyang opened its embassy in Peru in the 1980s during the first government of former President Alan Garcia, which bought weapons from North Korea at a discount for police.

The North says it needs nuclear weapons to protect itself from "hostile" U.S. forces and analysts believe Pyongyang's weapons programme has made rapid progress under leader Kim Jong-Un, with previous sanctions having done little to deter it.

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The test sent powerful tremors across the region, suggesting the device used was the most powerful the nation has ever tested. Experts are not so sure, but as long as Pyongyang claims to have the technology, the working assumption is that it's true.

North Korea has also tested a missile capable of reaching the United States, but experts say it is likely to be at least a year before it can field an operational nuclear missile that could threaten the USA mainland. But when asked if they thought the North would initiate a war, only 37 per cent answered it was possible, while 58 per cent responded that that was little to no chance of such an outcome. He singled out the China Merchants Bank and the Agricultural Bank of China.

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