North Korea threatens 'pain and suffering' ahead of United Nations sanctions vote

Posted September 14, 2017

That could be a significant restriction.

But it caps Pyongyang's imports of crude oil at the level of the last 12 months, and it limits the import of refined petroleum products to 2 million barrels a year. It would also cap the import of refined petroleum products at 2 million barrels a year starting January 1, 2018.

But how much impact the oil and fuel component of the sanctions will actually have - even if strictly enforced, which is always a concern - is an open question.

Peru also said on Monday that it was expelling North Korea's ambassador over the country's refusal to pay attention to the world's "constant calls" to end its nuclear program.

Pyongyang warned the United States on Monday that it would pay a "due price" for spearheading efforts on UN sanctions.

DPRK stands for the North's formal name, the Democratic People's Republic of Korea.

North Korea commemorated the 69th anniversary of its founding on Saturday, holding large patriotic displays of dancing and devotion to the Kim family. While that's about 10 percent more than the maximum amount allowed in the draft resolution, the exact volume of products is hard to determine and the cap is near estimated levels reported elsewhere.

"Today, we are saying the world will never accept a nuclear armed North Korea, and today the Security Council is saying that if the North Korean regime does not halt its nuclear program, we will act to stop it ourselves", U.S. ambassador to the UN Nikki Haley said following the vote on Monday.

Biswas noted, however, that the situation with China remains both crucial and complicated. China is clearly uncomfortable with the pressure it is under to shut down the supply of crude oil to North Korea. The new resolution drops sanctions on the airline and army and would only add 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.

One metric ton is roughly equal to roughly seven barrels of crude oil. But FireEye points out that hackers can swap them into other, more anonymous cryptocurrencies - or move them elsewhere and eventually withdraw them in traditional currencies like South Korean won or USA dollars.

Haley reiterated that the United States does not want war and said "North Korea has not yet passed the point of no return".

The new measures are sure to cause North Korea more economic pain.

Businessman Vladimir Baranov, who owns a ferry line which runs between North Korea and the Russian city, was highly critical of United States rhetoric over the current North Korean standoff. The measures also clamp down on joint ventures, which could stifle the North's ability to trade and to acquire capital and know-how.

The much stronger version proposed by the USA last week, included the first asset freeze directed at Kim Jong-un, a complete ban on oil sales to his regime, and a mandate for warships from any member state to inspect ships suspected of carrying contraband to or from North Korea, and to enforce inspect using "all necessary measures".

China - North Korea's most powerful ally - said Monday that it supported the Security Council's plan for a "further response" to North Korea and to take "necessary actions".

But Kang added both the United States and South Korea believed in following a policy of "responding firmly (to) provocations through tough sanctions while leaving the door open for dialogue".

It will also ban the export of all textiles, the official said, noting that in 2016, the North Korean regime earned $760 million through those sales - making it the largest economic sector that UN Security Council had not yet touched.

With it comes another demonstration of how adept Beijing is becoming at inching back and forth along the policy tightrope it has installed between Washington and Pyongyang.

Traditionally, the United States has discreetly negotiated with China on any North Korea sanctions before expanding talks to the full council once the five veto powers have agreed.