North Korea 'ready and willing' to respond to sanctions imposed by US

North Korea sanctions

The resolution was only passed unanimously after North Korea's allies Russian Federation and China agreed to softer sanctions than those proposed by the US. The FBI is also examining North Korea's link to the theft of $81 million through the New York Fed previous year, Bloomberg Markets reported last month.

A US official, familiar with the council negotiations and speaking on condition of anonymity, said North Korea imported some 4.5 million barrels of refined petroleum products annually and 4 million barrels of crude oil.

North Korea warned early Monday that the United States would feel the "greatest pain" if it pushed ahead with a new round of sanctions.

Haley noted that the council was meeting on the 16th anniversary of the 9/11 terrorist attack. 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 USA dollars. "We are done trying to prod the regime to do the right thing" and instead are taking steps to prevent it "from doing the wrong thing".

"We definitely see sanctions being a big lever driving this sort of activity", said Luke McNamara, a researcher at FireEye and author of the new report. This summer, the USA targeted two Russian companies with penalties for supporting North Korean missile procurement.

The proposed raft of sanctions come as UN Secretary General Antonio Guterres said in an interview the showdown over Pyongyang's nuclear and missile program was the world's worst crisis "in years" and had left him deeply anxious. If it proves it can live in peace, the world will live in peace with it. ... The North Korean regime has not yet passed the point of no-return", Haley told the council, adding: "If North Korea continues its risky path, we will continue with further pressure.

The final agreement was reached after negotiations between the US and China, the North's ally and major trading partner.

KELEMEN: Well, you know, President Trump has said this is not the time for negotiations.

MCEVERS: So how is the Trump administration approaching this differently from past administrations?

A halt to oil exports is far from certain.

The textile ban is significant.

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Hackers tied to North Korea are also suspected of carrying out a series of attacks on global banks that came to light a year ago . Both states, which each have the power to veto any resolution, have been reluctant to pursue tougher penalties on North Korea.

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The resolution also calls for a ban on North Korea's textile exports - its largest export after coal and other minerals in 2016. That's one of the ways North Korea earns hard currency. The Trump administration apparently sees this as a test of the worldwide community's will. NPR's Michele Kelemen is with us now to talk about this. "This ban will eventually starve the regime of an additional $500 million or more in annual revenues", she said.

Delighted with the results of the country's latest nuclear tests, North Korean leader Kim Jong-un has thrown a huge bash to congratulate the scientists who made it happen. Monday's resolution added just Workers' Party of Korea Central Military Commission member Pak Yong Sik, the Central Military Commission of the Workers' Party of Korea, the party's Organization and Guidance Department and its Propaganda and Agitation Department to the sanctions list.

Lee also reiterated that Seoul is not considering bringing US nuclear weapons back into the country.

The commission could not confirm what kind of nuclear test the North conducted, he added.

"That's a problem between us and the United States", Kim said. And the USA ambassador, Nikki Haley, says the resolution is meant to starve the regime of the money it needs to develop its nuclear and missile programs.

Monday's resolution was the ninth one unanimously adopted by the United Nations since 2006.

He again raised the Chinese and Russian proposal of a dual suspension of North Korea's nuclear and ballistic missile testing along with USA and South Korean military exercises in a bid to kick-start talks.

"This resolution also puts an end to the regime making money from the 93,000 North Korean citizens it sends overseas to work and heavily taxes", Haley said.

Liu again urged the council to adopt the freeze-for-freeze proposal and said talks with North Korea are needed "sooner rather than later".

Briefing Congress, treasury assistant secretary for terrorist financing Marshall Billingslea displayed satellite photos to demonstrate North Korea's deceptive shipping practices. Both countries could veto any new resolution. He called on North Korea to "take seriously" the will of the global community to halt its nuclear and ballistic missile development.

Guterres also reaffirmed his commitment to work with all parties to reduce tensions and promote a peaceful political solution "and to strengthening communications channels", Dujarric said.

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