THE UN SECURITY COUNCIL APPROVED NEW SANCTIONS ON NORTH KOREA

Winchester, VA – Reuters reports that The UN Security Council unanimously approved a U.S.-drafted resolution calling for sanctions on NK following their startling nuclear test a week ago. The UN Security Council has adopted 8 other sanctions resolutions since 2006 over North Korea’s ballistic missile and nuclear program. As a result of the sanctions, the export of condensates and natural gas liquids to North Korea is banned. There will be a cap on refined petroleum products of 2 million barrels a year, and a cap on crude oil exports.The resolution also bans the export of textiles by North Korea. Textiles are North Korea’s second biggest export behind coal and minerals.  CNN reports that North Korea threatened the United States that it would pay a “due price” if harsh sanctions were passed by the UN Security council.

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