UNSC unanimously approves new sanctions on North Korea

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Wang made the remarks while meeting his DPRK counterpart Ri Yong-ho on the sidelines of a series of ASEAN foreign ministers' meetings in the Philippines.

McMaster continued: "So what we have to do is - is everything we can to - to pressure this regime, to pressure Kim Jong Un and those around him such that they conclude it is in their interest to denuclearize".

The Security Council has already imposed six rounds of sanctions that have failed to halt North Korea's drive to improve its ballistic missile and nuclear weapons capabilities.

North Korea tested two intercontinental ballistic missiles in July.

The draft resolution condemns the launches "in the strongest terms" and reiterates previous calls for North Korea to suspend all ballistic missile launches and abandon its nuclear weapons and nuclear program "in a complete, verifiable, and irreversible manner". The resolution significantly strengthens the sanctions on the DPRK, imposing a full ban on the export of coal, iron and iron ore from the country. In the previous resolutions against Pyongyang adopted a year ago, the council set export caps on coal, the country's main trade item.

The Foreign Ministry said on Sunday in a statement that the UNSC Resolution 2371 includes a ban on all exports of coal, iron, iron ore, lead, lead ore and seafood, and prohibits additional permits for North Korean workers overseas, which were excluded in the previous resolution.

The government said that the resolution added nine North Korean officials and four entities including North Korea's main foreign exchange bank to the United Nations sanctions blacklist.

Moreover, it subjects nine North Korean individuals and four entities to asset freezes and travel bans.

A Security Council diplomat, who was not authorised to speak publicly and insisted on anonymity, called the newly sanctioned Foreign Trade Bank "a very critical clearing house for foreign exchange".

The measures would be the seventh set of United Nations sanctions imposed on North Korea since it first carried out a nuclear test in 2006.

It also gives the committee a green light to designate specific vessels that are breaking sanctions from entering ports all over the world and to work with Interpol to enforce travel bans on North Koreans on the sanctions blacklist.

China is North Korea's largest trading partner and makes up 85 percent or more of North Korea's total trade.

When asked about the effectiveness of another set of sanctions - those against Russian Federation that President Donald Trump signed into law Wednesday - Haley said "we'll have to wait and see".

Chinese Ambassador Liu Jieyi said the resolution does not intend to harm the North Korean people.

Though the economic sanctions have teeth, Washington didn't get everything it wanted.

He said he hoped comments by US Secretary of State Rex Tillerson on Wednesday, that the US is not seeking regime change or to accelerate reunification of North and South Korea or an excuse to send the US military into the region, were honest. "One thing North Korea is extremely good at is absorbing pain". "The ball is in North Korea's court".

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