North Korea - Adoption of resolution 2375 (11 September 2017)
Sep 13 2017 by Desiree Burns
Following Pyongyang's latest nuclear test, Chinese Foreign Ministry spokesman Geng Shuang saidChina supports new United Nations measures hoping they will promote a resolution "through peaceful means".
"We're convinced that diverting the gathering menace from the Korean Peninsula could be done not through further and further sanctions, but by political means", he said.
In an attempt to punish North Korea for its latest nuclear test, the UN Security Council approved new sanctions, targeting the country's textile industry and limiting its import of crude oil.
The 15-member Security Council passed the resolution unanimously Monday following a week of talks that began when Kim Jong Un's regime tested its most powerful nuclear bomb.
Other workers at Industrial and Commercial Bank of China said they had stopped opening North Korean accounts months ago, with one reportedly saying the change followed an order from the People's Bank Of China, the country's central bank. Energy imports to the rogue country are significantly reduced - oil imports by 30%, capped at four million barrels annually, while natural gas imports are banned entirely.
When commenting on the adoption of new sanctions, US Ambassador to the UN Nikki Haley said the "strong relationship" between US President Donald Trump and Chinese President Xi Jinping played a major factor in passing the resolution.
The decision to slap fresh sanctions on North Korea was reached after the council voted 15-0 on Monday to slap a ban on textile exports and restrict shipments of oil products to North Korea with the backing from China and Russian Federation. If North Korea continues its risky path, we will continue with further pressure.
Textile exports North Korea's largest economic sector that the Security Council had not previously restricted earned North Korea an average of Dollars 760 million in the past three years. U.S. administration did not agree to this proposal.
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Korea denounces new United Nations sanctions
He expressed hope that the United States will pledge not to seek regime change or North Korea's collapse. So far, sanctions have done little to slow North Korea's relentless progress in developing nuclear arms.
"Threatening and destabilizing actions only increase the North Korean regime's isolation in the region and among all nations of the world".
Mr Mnuchin echoed the U.S. envoy to the UN, Ms Nikki Haley, in calling the sanctions "historic" even though they did not include United States demands for a full oil embargo and a freeze on Mr Kim's assets.
Nevertheless, ahead of the UN Security Council meeting, the country said that if the U.S. did eventually push through harsher sanctions, North Korea would "absolutely make sure that the United States pays due price".
The sanction is less than Haley had sought when she pushed for a ban on oil and a freeze on Kim's assets overseas, but it still remains a win on her side, though it's unlikely to persuade Kim to halt his nuclear program yield to call for negotiation.
The UN Security Council is due to vote on Monday afternoon, NY time, on a draft proposal of sanctions against the reclusive state.