September 12, 2017 09:10
The UN Security Council on Tuesday unanimously approved a set of new but watered-down sanctions against North Korea in response to the country's nuclear test earlier this month.
They include a ban on the rogue country's textile exports and a cap on how much crude oil it can import rather than the full ban the U.S. and South Korea had been seeking.
The revised resolution has followed tense negotiations with China and Russia, who have a veto and opposed a full oil embargo and the blacklisting of North Korean leader Kim Jong-un, his sister Kim Yo-jong and flag carrier Air Koryo.
The final resolution imposes a ban on oil condensates exports to the North and cuts refined petroleum exports at 2 million barrels or about half last year's level, but maintains international shipments of crude at the existing level of about 4 million barrels a year.
North Korea exports about US$752 million worth of textile products annually, its second-largest shipments after coal.
The new resolution also requires North Korean laborers abroad to obtain UN Security Council approval before they are given jobs.
One UN source said, "The revised resolution retreated from drastic proposals in the first draft by the U.S., so it is still unlikely to put much further pressure on North Korea to denuclearize."
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