Yesterday, China vowed to fulfill its duties as part of the United Nations’ latest effort to curb North Korea’s nuclear intentions… but we’re not convinced.
The U.S.-sponsored Resolution 2371, which passed with unanimous support from all 15 UN council members on Saturday (Aug. 5), was drafted with the purpose of hitting Kim Jong Un’s regime where it will hurt the most: trade.
Specifically, the latest batch of North Korea sanctions will bar North Korean exports of several key commodities – including lead, lead ore, iron, iron ore, coal, and seafood. These restrictions, in turn, will deny the country an estimated $1 billion in exports annually – equivalent to about one-third of its total trade with the outside world per year. Continue reading