North Korea, US delegates exchange fiery remarks on UN sanctions

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North Korea warned of retaliation if the UN Security Council approves a U.S. proposal for harsher sanctions after Pyongyang conducted is sixth and most powerful nuclear test.

"Democrats will protect America and our allies, press China to restrain North Korea, and sharpen the choices for Pyongyang to compel it to abandon its illegal nuclear and missile programs". That's because his weapons program gives him a deterrent against the USA, which North Korea frequently says wants to attack.

"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". China and Russian Federation, both veto-holding powers, are unlikely to be on board with the US.

It does however ban the pariah state from importing all natural gas liquids and condensates.

"Russia is now a player in this realm", Anthony Ruggiero, former Treasury Department official and now a senior fellow working with the think tank Foundation for Defense of Democracies, told the Post.

Mnuchin told a conference broadcast on CNBC that China agreed to "historic" sanctions on North Korea on Monday in a UN Security Council vote. The only caveat is for guest workers who are deemed necessary for humanitarian assistance or denuclearisation.

6 August: UN banned North Korean exports of coal, ore and other raw materials and limited investments in the country, costing Pyongyang an estimated $1bn - about a third of its export economy. They also want to freeze Kim's assets.

China would support further United Nations action if it helped restart dialogue with North Korea, foreign minister Wang Yi said last week.

A year ago textile exports were $726 million, or more than a quarter of North Korea's total export income.

One common view in Beijing is that Trump's war rhetoric has only made Kim more insecure, prompting him to accelerate his weapons program.

Chinese state banks have started suspending transactions through accounts held by North Koreans, Kyodo News reported Sunday, citing unidentified people.

Leaving aside for a moment how attainable, by any means, a complete denuclearization of Pyongyang might be, this moment when an anticipated North Korea escalation has not happened presents the United States with a unique and fading opportunity.

Still, North Korea denounced efforts by Washington to impose new UN-backed sanctions against it.

Beijing's banking ban is a clear sign of rising tensions with the Pyongyang regime, which has publicly criticised China for supporting United Nations sanctions.

China's President Xi Jinping is yet to meet Kim Jong-un, and the last high-level visit by a Chinese official to Pyongyang was almost two years ago.

And the State Department has said that it's going to take time for any of these sanctions to have the effect that the US wants, which is to pressure North Korea back to negotiations.

And South Korean Foreign Minister Kang Kyung Wha said: "I do believe that whatever makes it into the final text and is adopted by consensus hopefully will have significant consequences on the economic pressure against North Korea".

"The forthcoming measures to be taken by the DPRK will cause the greatest pain and suffering it had gone through in its entire history", continued the statement by the country's ministry of foreign affairs.

MCEVERS: Though she calls the resolution the toughest to date, the sanctions are not as stringent as the Trump administration had initially proposed. The last thing Xi's strong political image needs would be a loss of a fraternal ally in North Korea, despite the idiosyncrasy of the regime. "The Chinese may be fed up with North Korea and willing to do more to increase the pressure".

Earlier, the U.S. vowed to apply further pressure if North Korea kept its "dangerous path". Trump has been threatening fire and fury, but the military hasn't done anything to suggest that it's preparing for a military option here.

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