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US Demands North Korean Oil Embargo, Kim Asset Freeze In Draft UN Resolution

Courtesy of ZeroHedge. View original post here.

Details are emerging of what President Trump's administration is hoping the UN will agree to with regard sanctions pressure on North Korea. AFP reports the US seeks an asset freeze (and travel ban) on leader Kim Jong-Un as well as an oil embargo, and blockade of textile exports.

#BREAKING US seeks oil embargo on North Korea, according to a draft UN resolution

— AFP news agency (@AFP) September 6, 2017

#BREAKING US seeks asset freeze on North Korean leader Kim Jong-Un, according to draft UN resolution

— AFP news agency (@AFP) September 6, 2017

OAdditionally, Reuters reports that:

  • DRAFT U.N. RESOLUTION SEEKS TO BAN NORTH KOREAN EXPORTS OF TEXTILES, and
  • TO PROHIBIT THE PAYING, HIRING OF NORTH KOREAN LABORERS ABROAD
  • DRAFT U.N. RESOLUTION SEEKS TO FREEZE THE ASSETS OF THE GOVERNMENT OF NORTH KOREA
  • DRAFT U.N. RESOLUTION WOULD IMPOSE AN ASSET FREEZE ON NORTH KOREA'S NATIONAL AIRLINE AIR KORYO

Of course, China will never agree (and Russia – North Korea's secondary oil supplier after China – is likely to be unhappy), but perhaps that is the point.

As The Telegraph reports, South Korea's president has asked Vladimir Putin to help tame North Korea, but the two leaders are divided over the need for sanctions on the rogue regime.

While Mr Moon has sought Russian support for stronger sanctions against North Korea, Mr Putin continued to insist that this is a dead end.

He called Pyonyang's nuclear weapons programme a “crude violation of UN security council resolutions” but said it was “impossible to resolve the problem of the Korean peninsula only by sanctions and pressure”.

“It's not worth giving in to emotions and driving North Korea into a corner,” Mr Putin said. “Now more than ever everyone needs to be cold-blooded and avoid steps leading to an escalation of tensions.”

During their meeting, the South Korean leader said it was inevitable Pyongyang's oil supply would be cut and asked his Russian counterpart to cooperate, Mr Moon's press secretary said.

Mr Putin responded that shutting off the pipeline would damage hospitals, his aide Yuri Ushakov said.

Although China provides the bulk of North Korea's oil, Russia exports 40,000 tonnes of oil per quarter to the isolated state, Mr Putin said on Tuesday.


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