Home / Knowledge / News / Textiles / US wants UN sanctions on N Korean oil, textile exports
US wants UN sanctions on N Korean oil, textile exports
08
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


Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 22nd Feb 2018

Final version of CPTPP pact released; to be signed in March

The final version of the Comprehensive and Progressive Agreement for...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Gujarat finance minister Nitin Patel. Courtesy: Global Gujarat News

Textiles | On 22nd Feb 2018

Rs843 cr for MSMEs, Rs35 cr for khadi in Gujarat budget

The Gujarat government has made a provision of Rs 843 crore in the...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search