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UN mulls US push for N.Korea oil embargo, textile export ban

September 11/2017

MOSCOW (MRC) The United States wants the United Nations Security Council to impose an oil embargo on North Korea, ban the country's exports of textiles and the hiring of North Korean laborers abroad, and subject leader Kim Jong Un to an asset freeze and travel ban, according to a draft resolution seen by Reuters .

The US ambassador to the United Nations, Nikki Haley, has said she wants the 15-member council to vote on Monday on the draft resolution to impose new sanctions over North Korea's sixth and largest nuclear test. However, Russia's UN Ambassador Vassily Nebenzia has said a Monday vote may be "a little premature."

It was not immediately clear if the draft resolution had the support of North Korean ally China. Russian President Vladimir Putin insisted on Wednesday that resolving the North Korean nuclear crisis was impossible with sanctions and pressure alone.

A UN resolution needs nine votes in favor and no vetoes by the United States, Britain, France, Russia or China to pass. US Treasury Secretary Steven Mnuchin said on Wednesday that if the Security Council did not act, he had an executive order prepared to send to President Donald Trump that would "authorize me to stop doing trade and put sanctions on anybody that does trade with North Korea.

"The president will consider that at the appropriate time once he gives the UN time to act," Mnuchin told reporters. Since 2006, the Security Council has unanimously adopted eight resolutions ratcheting up sanctions on North Korea over its ballistic missile and nuclear programs. Haley said the incremental approach had not worked and a diplomatic solution could only be reached by imposing the strongest sanctions.

The new draft UN resolution would ban exports to North Korea of crude oil, condensate, refined petroleum products and natural gas liquids.

China supplies most of North Korea's crude. According to South Korean data, Beijing supplies roughly 500,000 tpy of crude oil. It also exports 200,000 tpy of oil products, according to UN data. Russia's exports of crude oil to North Korea are about 40,000 tpy.
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Crude oil, USA.
Category:General News
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