New North Korea sanctions to focus on country's oil imports


The United States says the shield, more than a decade in the planning, is needed to protect against so-called rogue states, a term USA officials have used to refer to North Korea and Iran.

"Sanctions against North Korea are likely to fuel their cybercrime activity", said Bryce Boland, Singapore-based chief technology officer with FireEye.

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

The news of China blocking financial transactions of North Korean clients was confirmed by employees at several branches of the country's biggest banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank.

The final agreement was reached after negotiations between the U.S. and China, the North's ally and major trading partner. Textiles are North Korea's main source of export revenue after coal, iron, seafood and other minerals that have already been severely restricted by previous United Nations resolutions. 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 US dollars.

Some Russian companies, however, continue to conduct trade with North Korea.

Since then, North Korea has successfully tested two intercontinental ballistic missiles, capable of hitting mainland United States, along with a variety of other short and medium-range weapons. Should worldwide society set up a new government for North Korea?

US Ambassador to the UN Nikki Haley said Monday her country was "not looking for war" with North Korea, as the UN Security Council unanimously passed new sanctions she said would "starve the regime" into stopping its nuclear programme.

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Almost 80 percent of the textile exports went to China.

Referring to the sanctions, USA ambassador to UN Nikki Haley said in a statement that these were by far the strongest measures ever imposed on Pyongyang.

While South Korea's Ji-sung Park is a famous alumnus of Man Utd, Kim's notoriously strict rules over his citizens leaving the country mean it might be a while before the Red Devils have a North Korean star among their ranks.

So while China does not want a nuclear North Korea, it wants a North Korean collapse even less and it will resist any sanctions which risk that outcome. The U.S. should look to engage diplomatically to find a level of security that North Korea and its neighbors will be happy with, he said.

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. Even Secretary of State Rex Tillerson had earlier said that USA was not aiming to destabilize North Korea or for a regime change in the country. Russia's envoy said Washington's unwillingness to have UN Secretary General Antonio Guterres try to resolve the dispute "gives rise to very serious questions in our minds".

According to FireEye, spearphishing attempts against one South Korean exchange began early in May, and later in that month another exchange in South Korea was compromised via spearphishing.

"The textile sanctions actually might have more impact, as they are probably a good source of value-added income - value added by people you don't have to pay much - for the regime", he said.