UN approves toughest sanctions on North Korea in 20 years

The UN resolution emphasises the brand new sanctions aren’t created to lead to “adverse humanitarian impacts” for civilians, a number of whom face financial hardships and shortages of food.

The New York Times reports the sanctions would not affect tens of thousands of North Koreans employed in factories, construction projects and logging camps in China, Russia, the Middle East and Africa.

“And that’s why this sanctions regimen is targeted more specifically at the North Korean elite”, he said.

Among provisions are a complete ban on all types weapons transfers to and from North Korea and a mandatory inspection by United Nations member states of all cargo going to and from North Korea by air, sea and land. Ban also renewed his call for North Korea to genuinely improve human rights, saying it is “a necessary basis for long-term security and stability”. FINANCIAL/BANKING SANCTIONS- Extends an asset freeze to all funds held overseas by the government, the Workers’ Party of Korea, the Daedong credit bank and Korea Kwangson banking corporation.

Analysts noted that previous sanctions were hampered because of a lack of vigorous enforcement by member states and the North’s ingenious ways of circumventing them.

The resolution also prohibits all countries from opening new branches, subsidiaries and representative offices of North Korean banks, and bans financial institutions from establishing new joint ventures or establishing or maintaining correspondent relationships with these banks.

Security Council members are agitated by North Korea’s recent nuclear and missile tests – both of which defied current worldwide sanctions.

The council – which suspects North Korea of trying to develop a missile capable of delivering a nuclear payload under the cover of its satellite program – strengthened its ban on ballistic missiles, including those purportedly linked to its space program.

The council also slapped a highly symbolic ban on luxury items, prohibiting North Korea from buying luxury watches, recreational sports equipment, leisure boats, and snowmobiles that cost more than $2,000.

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.

The added restrictions limit or ban exports of gold, titanium, rare earths and coal, a key source of hard currency for Kim Jong Un’s regime, as well as imports of small arms.

The United Nations Security Council unanimously adopted tough, new sanctions on North Korea Wednesday, taking aim at its nuclear and ballistic missile programs. It also reaffirms the council’s decisions that the North abandon all nuclear weapons and other weapons of mass destruction, and its ballistic missile program.

Prime Minister Shinzo Abe on Thursday acclaimed the U.N. Security Council’s adoption of a new, stronger sanctions regime against North Korea and demanded that Pyongyang not engage in further provocations. North Korea followed up with a banned missile launch on February 7.

China’s ambassador renewed Beijing’s opposition to the THAAD missile system, arguing that it undermines worldwide efforts to re-start talks on a final settlement on the Korean peninsula. – Bans military and police cooperation, shutting down North Korea’s training programs overseas, in particular in Africa.