UN approves toughest sanctions on North Korea

2nd March, 2016

UN approves toughest sanctions on North Korea

United Nations Security Council

1. Mandatory inspections of cargo leaving and entering North Korea by land, sea or air; 
2. A ban on all sales or transfers of small arms and light weapons to Pyongyang; 
3. Expulsion of diplomats from the North who engage in “illicit activities.”
4. Bans the export of coal, iron and iron ore being used to fund North Korea’s nuclear or ballistic missile programs 
5. Prohibits all exports of gold, titanium ore, vanadium ore and rare earth minerals. 
6. Bans aviation fuel exports to the country, including “kerosene-type rocket fuel.”
7. In the financial and banking sector, countries are required to freeze the assets of companies and other entities linked to Pyongyang’s nuclear and missile programs. 
8. Prohibits all countries from opening new branches, subsidiaries and representative offices of North Korean banks, and bans financial institutions from establishing new joint ventures or establishing or maintaining correspondent relationships with these banks. It also orders countries to close all North Korean banks and terminate all banking relationships within 90 days.
9. Expands the list of banned items, adding luxury items such as expensive watches, snowmobiles, recreational water vehicles and lead crystal.
10. Bans Pyongyang from chartering vessels or aircraft, and call on countries to “de-register” any vessel owned, operated or crewed by the North.

Reason for Ban:

It started off the new year with what it claims was its first hydrogen bomb test on Jan. 6 and followed up with the launch of a satellite on a rocket on Feb. 7. It was condemned by much of the world as a test of banned missile technology.