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UN imposes tough new sanctions on North Korea

The United Nations Security Council votes on a new sanctions resolution that would increase economic pressure on North Korea to return to negotiations on its missile program, Saturday, Aug. 5, 2017 at U.N. headquarters. (AP Photo/Mary Altaffer)
The United Nations Security Council votes on a new sanctions resolution that would increase economic pressure on North Korea to return to negotiations on its missile program, Saturday, Aug. 5, 2017 at U.N. headquarters. (AP Photo/Mary Altaffer) The United Nations Security Council votes on a new sanctions resolution that would increase economic pressure on North Korea to return to negotiations on its missile program, Saturday, Aug. 5, 2017 at U.N. headquarters. (AP Photo/Mary Altaffer)

By Associated Press 2 min read

UNITED NATIONS (AP) – The U.N. Security Council unanimously approved tough new sanctions on North Korea on Saturday including a ban on exports worth over $1 billion – a huge bite in its total exports, valued at $3 billion last year.

U.S. Ambassador Nikki Haley praised the new sanctions, telling council members after the vote that it is “the single largest economic package ever leveled against the North Korean regime.”

The resolution also bans countries from giving any additional permits to North Korean laborers – another source of money for Kim Jong Un’s regime. And it prohibits all new joint ventures with North Korean companies and bans new foreign investment in existing ones.

The U.S.-drafted measure, negotiated with North Korea’s neighbor and ally China, is aimed at increasing economic pressure on Pyongyang to return to negotiations on its nuclear and missile programs.

The Security Council has already imposed six rounds of sanctions that have failed to halt North Korea’s drive to improve its ballistic missile and nuclear weapons capabilities.