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Will latest United Nations sanctions make Kim Jong Un sweat?

Will latest United Nations sanctions make Kim Jong Un sweat?”

Chinese President Xi Jinping had invited Trump to visit China during their meeting in April in Palm Beach, Florida. He cited Trump's warning last month of "fire and fury" against the North if it makes more threats, and his "shaming" of allies through tweets, which he said undermined USA credibility.

Apart from the oil and textile ban, the sanctions have also put a ceiling on the deliveries of refined oil products to Pyongyang and also limit crude oil shipments to the current level.

China, North Korea's sole ally and main trading partner, had strongly objected to an oil embargo initially sought by the United States out of fear it would bring the North's economy to its knees.

The proposal included a ban on oil and textile exports to North Korea and prohibited North Korean citizens from working overseas.

Indeed any conflict on the divided Korean peninsula evokes a nightmare military scenario where South Korea's bustling and prosperous capital remains precipitously close to the demilitarized zone (DMZ) and a likely onslaught of punishing North Korean artillery barrages.

There are also restrictions on textiles, which are North Korea's second-biggest export after coal and other minerals. "It is a very significant set of additional sanctions on imports into North Korea and on exports out of North Korea".

Early Monday, North Korea said it would not accept any chastisement over its nuclear and missile programme, which it said is vital to stave off the threat of an American invasion.

A person answering the customer hotline at the world's largest lender, Industrial and Commercial Bank of China Ltd (ICBC), said the bank had stopped opening accounts for North Koreans and Iranians since July 16.

The Security Council vote comes just over a month after United Nations diplomats targeted about $1 billion in North Korean exports.

It would retain a proposed ban on textile exports, while diluting a ban on the use of guest workers from the isolated country and dropping proposals to freeze the assets of Kim and national airline Air Koryo, the diplomat said.

Seoul welcomed the resolution, calling it a "grave warning that [North Korea's] continued provocations will only intensify its diplomatic isolation and economic pressure". If the North continues to develop its program, the USA will have a case for war. The resolution adds only the Central Military Commission of the Workers' Party of Korea and the party's powerful Organization and Guidance Department and its Propaganda and Agitation Department to the sanctions blacklist.

"The DPRK shall make absolutely sure that the USA pays a due price", the Korean Central News Agency said, citing a statement by the Ministry of Foreign Affairs and using initials for North Korea's formal name. But the vote was passed only after Pyongyang allies Russian Federation and China agreed to the reduced measures.

Security Council diplomats, who weren't authorized to speak publicly because talks have been private, said the U.S. and China were still negotiating the text late Sunday.

Merkel is widely seen in Germany as a safe pair of hands at a time of global uncertainty such as the North Korea crisis, Britain's looming departure from the European Union and Donald Trump's presidency in the United States.

Some 93,000 North Koreans work overseas, providing Kim's regime with a source of revenue to develop its missile and nuclear programs, according to a U.S. official familiar with the negotiations.

In his remarks, the Chinese envoy, Liu Jieyi, warned the United States against efforts at "regime change" and the use of military force.

There was no immediate reaction to the new resolution from North Korea. "But it's not clear that the Russians are willing to go along with that".

"We are not looking for war and the North Korean regime has not yet passed the point of no return".

"In case the USA eventually does rig up the illegal and unlawful "resolution" on harsher sanctions, the DPRK shall make absolutely sure that the U.S. pays due price", the spokesman said in a statement carried by the official KCNA news agency.



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