North Korea could develop a bomb more powerful than the atomic bombs dropped on japan. Veuer’s Nathan Rousseau Smith has the full story.
The United Nations Security Council on Saturday imposed sharply increased economic sanctions on North Korea worth one-third of its annual $3 billion exports in an effort to rein in Pyongyang’s nuclear and ballistic missile program.
China, which holds enormous financial leverage against North Korea, joined the other members of the council in the 15-0 vote.
President Trump touted the new sanctions Saturday night on twitter: “The United Nations Security Council just voted 15-0 to sanction North Korea. China and Russia voted with us. Very big financial impact!”
Nikki Haley, ambassador to the U.N. for the United States, which drafted the resolution, said the vote “put the North Korean dictator on notice” and represented a “strong, united step holding North Korea accountable for its behavior.”
The sanctions, which target North Korea’s foreign currency earnings, ban its exports of coal, coal ore, iron, iron ore, lead, lead ore and seafood. It also prohibits countries from increasing the number of North Koreans working abroad and bans new joint ventures with the North as well as any new investment in current joint ventures.
In addition, the sanctions place nine individuals and four entities on the U.N. blacklist, including a global asset freeze and travel ban on North Korea’s primary foreign exchange bank.
“It’s going to hit hard but it’s going to make a strong point to North Korea that all this ICBM and this nuclear irresponsibility has to stop,” Haley said before entering the chamber to vote.
The action reflects the council’s growing impatience with Pyonyang for defying a…