UN Security Council Unanimously Steps Up Sanctions against North Korea

• The United Nations Security Council unanimously stepped up sanctions against North Korea on Monday over the country’s sixth and most powerful nuclear test on Sept. 3, imposing a ban on the country’s textile exports and capping imports of crude oil.
• It was the ninth sanctions resolution unanimously adopted by the 15-member council since 2006 over North Korea’s ballistic missile and nuclear programs.

About Resolution

• The resolution is designed to accomplish six major goals: cap North Korea's oil imports, ban textile exports, end additional overseas laborer contracts, suppress smuggling efforts, stop joint ventures with other nations and sanction designated North Korean government entities, according to a US official familiar with negotiations.
• A full oil import ban and sanctions on Kim Jong Un himself were dropped at the last minute, in a possible attempt by the US to gain the support of Russia and China.

Analysis:

• This resolution will result in a 30% decrease in total oil imports by cutting off over 55% of refined petroleum products going to North Korea.
• It will also ban the export of all textiles noting that in 2016, the North Korean regime earned $760 million through those sales -- making it the largest economic sector that UN Security Council had not yet touched.
• Additionally, the new measures will prevent overseas workers from earning wages that finance the North Korean regime -- over $500 million each year -- in addition to cutting off foreign investments, technology transfers and other economic cooperation, according to a statement from the US mission to the UN.
• These additional measures were also included to limit North Korea's ability to smuggle products like coal and iron -- particularly on the high seas.
• North Korea has long maintained it wants nuclear weapons and long-range missiles to deter the United States from attempting to overthrow the regime of Kim Jong Un.
• Pyongyang looks at states such as Iraq -- where Saddam Hussein was overthrown by the United States, and Libya -- its late leader, Moammar Gadhafi, gave up his nuclear ambitions for sanctions relief and aid, only to be toppled and killed after the United States intervened in his country's civil unrest -- and believes that only being able to threaten the US mainland with a retaliatory nuclear strike can stop American military intervention.

By: Vishal