U.S. proposes United Nations ban on oil to North Korea and asset freeze

U.S. proposes United Nations ban on oil to North Korea and asset freeze”

President Vladimir Putin of Russian Federation told South Korea President Moon Jae-in at an economic conference on Wednesday that new economic sanctions and worldwide pressure against North Korea would not help to denuclearize the country, saying it would only hurt the North Korean people.

The United States is seeking the toughest-ever U.N. sanctions on North Korea that would ban all oil and natural gas exports to the northeast Asian nation and freeze all foreign financial assets of the government and its leader, Kim Jong Un.

"The best strategy would be deploying sanctions... sustained financial pressure in which we do not let up on those financial institutions that are assisting North Korea", said Republican Representative Ed Royce, chairman of the House committee, who just returned from a trip to South Korea.

Seoul's Defense Ministry said Wednesday that four launchers and construction equipment will be moved to the former golf course where the Terminal High-Altitude Area Defense system has been set up.

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Following last weekend's nuclear test, Trump said he was considering cutting off United States trade links with any country that does business with North Korea, whose main economic partner is China.

China is a veto-wielding permanent member of the UN Security Council, as well as North Korea's main trading partner and source of food and fuel aid.

"The survey results show South Koreans have likely grown accustomed to its repeated threats of provocation after over 60 years in a ceasefire state", Gallup Korea said in a statement. The Wall Street Journal reports China is stepping up its radiation monitoring in the wake of last weekend's North Korean nuclear test, which was staged less than 50 miles from China's border.

Trump didn't answer a question about whether he would accept North Korea as a nuclear power and switch the US strategy to one of containment and deterrence.

Following Pyongyang's test on Sunday, Abe spoke to Putin over the phone, and reminded him of the important role Russian Federation can play as a permanent member of the United Nations Security Council in reigning in North Korea.

America's allies condemned North Korea's claimed test of a hydrogen bomb and agreed to cooperate to respond to the rogue nation's hostile actions.

North Korea on Sunday triggered global alarm when it detonated what it described as a hydrogen bomb designed for a long-range missile, which was followed by signs that Pyongyang was preparing a new missile launch.

It's all complicated by growing fears in both South Korea and Japan that their current arrangements for nuclear protection from the USA may not be reliable.

US President Donald Trump said on Wednesday that a military strike was not his first option for dealing with a nuclear-armed North Korea, but he did not rule it out completely.

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