Diplomat: $1 billion in NKorea exports would be banned by UN

August 04, 2017 - 3:53 pm

UNITED NATIONS (AP) — A proposed new U.N. sanctions resolution would ban North Korea from exporting coal, iron, lead and seafood worth a total of about $1 billion, a major cut to its export earnings, which totaled only $3 billion last year, a Security Council diplomat said Friday.

The diplomat, who was not authorized to speak publicly, said the draft resolution would also ban countries from giving additional permits to North Korean laborers — another source of money for Kim Jong Un's regime.

The proposed new sanctions follow North Korea's first successful tests of intercontinental ballistic missiles capable of reaching the United States last month and are aimed at stepping up pressure on Kim to return to negotiations on his country's nuclear and ballistic missile programs.

The United States drafted the initial resolution and spent several weeks negotiating the text with China, North Korea's neighbor and ally. The diplomat said the resolution has been discussed with experts from all 15 Security Council nations and will likely be put in a final form later Friday, hopefully with a vote "imminently."

The draft resolution would also add additional names to the U.N. sanctions blacklist including the Foreign Trade Bank, which is a major clearing house, the diplomat said. And it would ban North Korea from importing many more so-called "dual-use items" that have both commercial and military uses.

The diplomat said the proposed resolution would also prohibit all new joint ventures with North Korean companies — and ban new foreign investment in existing joint ventures.

This would be seventh set of sanctions imposed on North Korea.

The diplomat said the draft resolution would tighten existing measures, including by designating specific vessels that are breaking sanctions from entering ports all over the world and by working with INTERPOL to enforce travel bans.

In early July, U..S. Ambassador Nikki Haley told the Security Council that if it was united, the international community could cut off major sources of hard currency to North Korea, restrict oil to its military and weapons programs, increase air and maritime restrictions, and hold senior officials accountable.

The diplomat said oil was not included in the draft resolution and neither are new air restrictions.

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