December 1, 2016

"The UN Security Council voted Wednesday to impose a new round of economic sanctions on North Korea in response to its fifth and largest nuclear test.

The resolution places a cap on Pyongyang's annual coal exports, cutting them by at least 62 percent at $400.9 million. It also slaps a ban on Pyongyang's exports of non-ferrous metals and putslimits on the country's foreign missions.

The Security Council has imposed increasingly targeted and harsher sanctions on Pyongyang since 2006. The latest sanction takes aim at North Korea's hard currency revenues that are believed to have been used to fund the nation's nuclear and ballistic missile programs. Pyongyang generates most of its foreign revenue from trade in staple commodities with Beijing, coal in particular. Coal exports are the country's single largest source of external funds, according to media reports. By capping North Korea's coal exports and cutting down its currency revenue, the international community is attempting to prevent Pyongyang from gaining the economic capability to develop nuclear programs."

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