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US wants UN sanctions on N Korean oil, textile exports
Sep '17
US ambassador to the United Nations Nikki Haley has said she wants the 15-member UN Security Council (UNSC) to vote on September 11 on a draft resolution to impose new sanctions on North Korea that includes an oil embargo and a ban on the country’s textile exports and the hiring of North Korean labourers abroad. The country recently tested a nuclear bomb.

The United States wants the UNSC to impose the embargo and subject North Korean President Kim Jong Un to an asset freeze and travel ban, a news agency reported. However, Russia insists the North Korean nuclear crisis is impossible to solve with sanctions and pressure alone.

Meanwhile, US treasury secretary Steven Mnuchin has said that if the UNSC did not act, he has an executive order prepared to send to President Donald Trump that would ‘authorize’ him to stop conducting trade and put sanctions on any entity that maintains trade ties with North Korea.

It is estimated that between 60,000 and 100,000 North Koreans work abroad. Textiles were North Korea’s second-biggest export after coal and other minerals in 2016, worth around $752 million, according to the Korea Trade-Investment Promotion Agency (KOTRA). Nearly 80 per cent of the textile exports went to China.

The draft resolution reportedly will allow states to intercept and inspect on the high seas vessels blacklisted by the UNSC. Around two dozen vessels are listed at present. (DS)

Fibre2Fashion News Desk – India

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