US Seeks an Asset Freeze for Kim Jong Un

US Seeks an Asset Freeze for Kim Jong Un

US Seeks an Asset Freeze for Kim Jong Un

The United Nations Security Council on September 11 voted to tighten sanctions on North Korea over the country's sixth and most powerful nuclear test, imposing a ban on the country's textile exports and setting a limit on imports of crude oil.

The US-drafted sanctions resolution passed just one month after the Security Council chose to ban exports of coal, lead and seafood in response to North Korea's launch of an intercontinental ballistic missile (ICBM).

China supplies most of North Korea's crude.

Treasury Assistant Secretary for Terrorist Financing Marshall Billingslea credited China and Russia's support of the United Nations resolution but said both countries "must do much more" to implement and enforce the sanctions, in the face of Pyongyang's ability to evade restrictions that have been progressively tightened for a decade.

Several diplomats say the USA demand for a quick council vote is aimed at putting maximum pressure on China. Losses of the North Korean state will grow.

"If it agrees to stop its nuclear programme, it can reclaim its future ..."

Merkel said a diplomatic solution was the only viable way to resolve the crisis - which has seen North Korea launch a series of missile tests as well as test what it said was a hydrogen bomb.

North Korea has warned it would retaliate against new sanctions, and experts say the reprisal could come in the form of a cyberattack.

An embargo would disrupt much of the country's Soviet-era manufacturing plants and reduce transportation options for North Koreans.

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An Aug. 5 United Nations resolution banned North Korean exports of coal.

"The forthcoming measures by DPRK (the Democratic Republic of Korea) will make the USA suffer the greatest pain it has ever experienced in its history", he said.

The proposal included a ban on oil and textile exports to North Korea and prohibited North Korean citizens from working overseas.

■ According to a recent study by the Nautilus Institute think tank, a massive cutback in the flow of oil from China would definitely hurt the North Korean economy, and especially average citizens.

"Japan's security environment including North Korea is increasingly grave - perhaps it's the most serious state in the post-war period", Onodera told public broadcaster NHK.

The sanctions were adopted unanimously in NY, with Russian Federation and China's approval.

That included a June 29 designation of the Bank of Dandong, a regional Chinese bank, which is believed to help North Korea access the US and worldwide financial systems.

- bans textile exports from North Korea and any country to issue new work permits to North Korean workers.

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