Peru says expelling North Korean ambassador over nuclear program

Peru says expelling North Korean ambassador over nuclear program

Peru says expelling North Korean ambassador over nuclear program

The Security Council is set to vote on Monday to impose new sanctions on North Korea after the United States watered down the text of a resolution to appease China and Russian Federation.

Most notably, the US dropped its demand for a full oil embargo and a proposal to freeze the assets of North Korean leader Kim Jong-un, members of his family, and other senior regime officials.

The measures agreed to by the 15-member Security Council also cap crude oil exports at current levels and limit refined petroleum sales to two million barrels annually. Almost 80 percent of the textile exports went to China.

I mean USA officials say at least the resolution gives them some new tools to crack down on smuggling - again, not as stringent as originally proposed. The sanctions were unanimously imposed by the United Nations following North Korea's latest nuclear test.

North Korea is betting that the United States will not stage a preemptive attack, and that if the USA made such an attack, China would come to its aid.

"We are done trying to prod the regime to do the right thing" and instead are taking steps to prevent it "from doing the wrong thing". US Secretary of State Rex Tillerson has called on the worldwide community to suspend the flow of North Korean guest workers, who earn between US$1.5 billion (NZ$2.07b) and US$2.3 billion a year - much of which is sent back to the regime. And it's unlikely to persuade Kim to halt his nuclear program and return to the negotiating table. "If it proves it can live in peace, the world will live in peace with it", Ms Haley added.

Calls are growing inside and outside the country to redeploy USA tactical nukes in South Korea, but the top office remains determined for now to oppose the move.

The final agreement was reached after negotiations between the U.S. and China, the North's ally and major trading partner.

"Today's resolution would not have happened without the strong relationship that has developed between President Trump and Chinese President Xi", Haley said.

North Korea's embassy in Lima declined comment.

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A complete ban on countries selling oil to North Korea has been replaced with a ban on condensates and natural gas liquids.

The textile ban is significant.

As Bloomberg's Yuji Nakamura and Sam Kim report, cybersecurity outfit FireEye has traced hacks of South Korean bitcoin and ethereum exchanges to North Korean operators.

The UK ambassador to the UN, Matthew Rycroft, was asked why he thought the new sanctions would change North Korean behaviour considering the eight earlier resolutions had failed.

The UNSC also completely banned North Korea's export of textiles, regarded as yet another major source of hard currency for its regime, along with coal.

"We think it's a big mistake to underestimate this Russia, China initiative", Nebenzia said. The document includes sanctions against the Workers' Party of Korea, including its Central Military Commission, as well as individual sanctions on North Korean Minister of People's Armed Forces General Pak Yong Sik.

A staff member at a Beijing branch of China Construction Bank said they received a notice in May, and North Koreans can no longer conduct transactions.

Ahead of the vote, North Korea vowed the United States would face "pain and suffering", and vowed it was "ready and willing" to retaliate if any new sanctions were approved by the U.N.

Offshore investors turned to net sellers of South Korean stocks in August, official data showed Tuesday, marking the first monthly outflows in eight months amid worries about North Korea's nuclear and missile provocations.

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