Likely impact of latest UN sanctions on North Korea

Nonetheless, Beijing did agree to several measures aimed at shutting down financing for nuclear and missile programs. The launch was condemned by much of the world as a test of banned missile technology. The measures halted most trade, tourism and private aid with North Korea.

According to KCNA, Kim made his comments while monitoring the test firing of a new, high-calibre multiple rocket launcher on Thursday, March 3 just hours after the UN Security Council unanimously adopted the US-drafted resolution penalizing the North for its 4th nuclear test in January and long-range rocket launch last month.

The news agency also confirmed the launch by North Korea of “short-range projectiles”, announced one day earlier by the South Korean Joint Chiefs of Staff. The South Korean government already had sanctions in effect since May 2010, after the sinking of the South Korean warship Cheonan, which killed 46 people. The South Korean defence ministry told the Yonhap news agency the projectiles were launched from Wonsan on the east coast, the BBC reports.

Bays added that the resolution included “some elements that are supposed to target the leadership of North Korea“. “We hope the relevant parties can keep cool heads and not take any actions that will escalate tensions”.

North Korea withdrew from the talks in 2008.

The resolution provides for a ban or severe restrictions on exports of coal, iron and iron ore, gold, titanium and rare earth minerals from North Korea, and prohibits the supply of aviation fuel including rocket fuel.

“Virtually all of the DPRK’s [North Korea] resources are channeled into its reckless and relentless pursuit of weapons of mass destruction”, said Samantha Power, U.S. ambassador to the United Nations, shortly after the vote. Besides, the document imposes sanctions against the banking sector, mandatory cargo inspections and targeted measures against persons and entities involved in the nuclear and missile programs.

Previously, nations only inspected planes and ships when they had “reasonable grounds”, which enabled North Korea to hide tools and parts for missiles and the nuclear program in inconspicuous packages, Power said.

Meanwhile, he said, the United Nations is spending a little over $100 million annually on humanitarian aid to the country.

“It is hard to foresee broad and consistent implementation of the new resolution, especially from players such as China, to create barriers that North Korea can not find its way around”, Berger said. The list of banned goods was extended to include luxury watches, Jet Skis and snowmobiles worth more than $2,000. Military experts doubt it has developed the capability to fire a long-range missile with a miniaturised warhead to deliver a nuclear weapon as far as the United States yet.