AFP reports that the United States on Friday presented to the UN Security Council a draft resolution toughening sanctions on North Korea, aiming to deprive Pyongyang of $1 billion in export revenue, a council diplomat said.
The council is expected to vote on Saturday on the measures that include a ban on exports of coal, iron and iron ore, lead and seafood by the cash-starved state.
The United States has been negotiating the proposed new measures with China, North Korea’s main trading partner and ally, since Pyongyang launched its first intercontinental ballistic missile on July 4.
A second launch on July 28 further raised alarm about Pyongyang’s drive to develop a missile capable of hitting the US mainland.
The ban on exports could deprive the Pyongyang regime of $1 billion in annual revenue, roughly a third of its foreign currency earnings, according to a diplomat familiar with the negotiations.
The draft text would also prevent North Korea from sending additional workers abroad, prohibit all new joint ventures and ban new investment in the current joint companies.
The diplomat indicated that China and Russia were prepared to support the draft resolution, which would be the seventh set of UN sanctions imposed on North Korea since it first carried out a nuclear test in 2006.
The proposed resolution would add North Korea’s Foreign Trade Bank, which manages foreign exchange, to a UN sanctions blacklist that imposes an assets freeze.
It would also tighten trade restrictions on technology to prevent North Korea from acquiring items that could be used for its military programs.
North Korean vessels that are caught violating UN resolutions would be banned from entering ports in all countries, under the proposed measure.
FOLLOW US ON:
Connect with Joshua Osagie (Blog owner)
WHEN ON WEB VIEW, SEE OUR TOP LEFT AND RIGHT SIDE BAR FOR LIVE STREAM NEWS CHANNELS (GLOBAL AND NIGERIAN )
LIKE US ON FACEBOOK
FOLLOW US ON:
> The Forefront on Twitter
>BBM Channel: C002CB006 {WELCOME TO THE FOREFRONT
>{Instagram: the_forefront_nigeria }
Connect with Joshua Osagie (Blog owner)
Share this post with others on social media with options below.
VIA SHARES, COMMENTS AND LIKES, JOIN OUR FACEBOOK PAGE FEED PLUGIN DOWN THE SITE (SWITCH TO WEB VIEW FOR PAGE UPDATES IF YOU ARE ON MOBILE VERSION OF THE SITE).
No comments:
Post a Comment
Disclaimer!!! Opinions expressed in comments do not represent THE FOREFRONT MEDIA NG's views. All participants are entitled to their opinions. Thank you!!!
Advertise on the Forefront: For advert placement in the blog or advert posts like news updates, reach +2348124620827 [WhatsApp].
Copyright 2023 The Forefront Media Ng. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from The Forefront Media Ng