The UN Security Council has imposed fresh sanctions on North Korea that include a ban on the sale, supply or transfer of condensates and natural gas liquids to the hermit kingdom and on its textile and apparel exports. The sanctions also prevent nations from providing work authorizations to North Koreans. A number of existing sanctions were also extended.
The Democratic People’s Republic of Korea (DPRK) shall not supply, sell or transfer, directly or indirectly, from its territory or by its nationals or using its flag vessels or aircraft, any kind of textile product and all nations will prohibit the procurement of such items from there, the UNSC said on its website after a resolution was adopted unanimously on 11 September to impose the sanctions.The UN Security Council has imposed fresh sanctions on North Korea that include a ban on the sale, supply or transfer of condensates and natural gas liquids to the hermit kingdom and on its textile and apparel exports. The sanctions also prevent nations from providing work authorizations to North Koreans. A number of existing sanctions were also extended.#
Existing sanctions that were extended include the freezing of an additional individual’s assets and both a travel ban and assets freeze to be imposed on three additional entities.
Japan’s representative at the UNSC Koro Bessho said oil imports will be cut by approximately 30 per cent and the ban on textile exports is expected to reduce North Korea’s revenues by $800 million. North Korea will also lose two of its largest sources of income — textile exports and overseas labourers, according to the South Korean representative Cho Tae-Yul.
US representative Nikki Haley said the resolution hit Pyongyang’s ability to fuel and fund its nuclear programme, and would reduce by almost half its supply of gas, diesel and heavy fuel oil. (DS)
Fibre2Fashion News Desk – India
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