United Nations approves new North Korea sanctions, the new measure cuts about $1 billion-worth of North Korean exports. The US ambassador to the UN noted that is the most stringent set of sanctions on any country ever.
The new sanctions against North Korea will cut about a third of the country’s export revenue each year – that is the most stringent set in the modern history and UN. Nikki Haley said:
‘This resolution is the single largest economic sanctions package ever leveled against the North Korean regime.’
The sanctions set is more than impressive, since now, new measures ban countries from buying North Korean coal, iron, iron ore, lead, lead ore and is seafood. In other words, it will cut about a third of the country’s annual export revenue. The members of UN will are not allowed also from increasing the “total number of work authorizations,” and developing business or any joint enterprises with the business partners from sanctioned North Korea.
The international community’s reaction to the sanctions against North Korea
According to the UN resolution, the business activity with North Korean partners will be banned since the moment of resolution’s approvement. The UN countries agree on wanting to stop North Korea’s nuclear development, that’s why the recent UN resolution is so serious.
However, in the case of Russia and the sanctions against it for the annexation of Crimea peninsula, the sanctioning strategy shows no especial success.
