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UNSC Sanctions Slash N. Korea's Annual Export Revenues by 1/3

News2017-08-07

Anchor: The United Nations Security Council(UNSC) has unanimously adopted new sanctions on North Korea for its recent intercontinental ballistic missile(ICBM) tests. The new sanctions will slash the North’s annual export revenue of three billion U.S. dollars by a third, by banning all exports of coal, iron, iron ore, lead, lead ore and seafood. However, restrictions on oil supplies to North Korea were excluded apparently due to opposition by China and Russia.
Kim Bum-soo has more. 
 
Report: The UN Security Council members approved the U.S.-drafted resolution on Saturday, 33 days after the North conducted an ICBM test on July fourth.
 
Resolution 2371 condemns the recent North Korean ballistic missile launches "in the strongest terms," urging the regime to give up all missile and nuclear weapons programs.
 
The resolution targets the regime's key export items, including coal, iron, iron ore and seafood. It also targets North Korea's other sources of cash, such as banks and joint ventures with foreign companies.
 
The measure is expected to slash North Korea's three-billion dollar annual export revenue by more than a third.
 
However, restrictions on oil supplies to North Korea were excluded apparently due to opposition by China and Russia.
 
South Korea, the U.S. and Japan hailed the adoption of new sanctions. Seoul's Foreign Ministry Spokesman Cho June-hyuck said in a statement Sunday that the council’s decision shows the international community's unified resolve against North Korean military threats.
 
While stressing that the measure will bring about a "very big financial impact" on North Korea, U.S. President Donald Trump on his Twitter underlined that China and Russia voted with the U.S.
 
Japan’s Prime Minister Shinzo Abe said the new UN resolution clearly conveyed the international community’s message that pressure against the North must be raised to a higher level.
 
In an article in the state-run newspaper Rodong Sinmun on Sunday before the sanction's adoption, North Korea threatened that it will turn the U.S. mainland into a “sea of fire” if it attempts to disturb the regime with sanctions.
Kim Bum-soo, KBS World Radio News. 

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