The United Nations Security Council has ratcheted up sanctions against the rogue regime in North Korea in response to its nuclear test conducted on September 2.
“We are done trying to prod the regime to do the right thing,” said U.S. Ambassador to the United Nations Nikki Haley. “We are now acting to stop it from having the ability to continue doing the wrong thing. We are doing that by hitting North Korea’s ability to fuel and fund its weapons program.”
Resolution 2375 reduces almost 30 percent of oil provided to North Korea by cutting off over 55 percent of its gas, diesel, and heavy fuel oil supplies. In addition, this resolution completely bans the export to North Korea of natural gas and other oil byproducts that could be used as substitutes for the reduced petroleum.
Further, a large portion of North Korea’s revenues come from exports, revenues they use to fund their nuclear and ballistic missile programs. The latest resolution bans all textile exports. That’s an almost $800 million hit to its revenue.
This resolution eventually also puts an end to the regime making money from the 93,000 North Korean citizens it sends overseas to work.
Resolution 2375 further prohibits all joint ventures with the regime preventing the regime from obtaining critically needed foreign investments, technology, and know-how needed for its commercial industries.
Finally, this resolution imposes asset freezes on the central North Korean regime entities, affecting both the military and the government itself.
It is now up to all nations to fully implement these sanctions.
“The North Korean regime has not yet passed the point of no return,” said Ambassador Haley. “If it agrees to stop its nuclear program, it can reclaim its future. If it proves it can live in peace, the world will live in peace with it. On the other hand, if North Korea continues its dangerous path, we will continue with further pressure. The choice is theirs.