December 23, 2017

UNITED NATIONS/SEOUL (REUTERS) - The UN Security Council on Friday (Dec 22) unanimously imposed new sanctions on North Korea following its latest intercontinental ballistic missile test, a move that analysts said could have a significant impact on the isolated country's struggling economy.

The resolution seeks to ban nearly 90 per cent of refined petroleum product exports to North Korea by capping them at 500,000 barrels a year and, in what diplomats said was a last-minute change, demands the repatriation of North Koreans working abroad within 24 months, instead of 12 months as first proposed.

The US-drafted resolution would also cap crude oil supplies to North Korea at four million barrels a year. The United States has been calling on China to limit its oil supply to its neighbour and ally.

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http://www.straitstimes.com/asia/east-asia/un-security-council-imposes-new-sanctions-on-north-korea