Black Friday Sale! Save huge on InvestingProGet up to 60% off

U.S. calls for U.N. Security Council vote on North Korea on Monday

Published 09/09/2017, 02:59
Updated 09/09/2017, 03:10
© Reuters. The United Nations Security Council sits to meet on North Korea after their latest missile test, at the U.N. headquarters in New York City

UNITED NATIONS (Reuters) - The United States on Friday told the U.N. Security Council that it intends to call a meeting on Monday to vote on a draft resolution establishing additional sanctions on North Korea for its missile and nuclear program, the U.S. Mission to the United Nations said in a statement.

The United States wants the Security Council to impose an oil embargo on North Korea, ban its exports of textiles and the hiring of North Korean labourers abroad, and to subject leader Kim Jong Un to an asset freeze and travel ban, according to a draft resolution seen by Reuters on Wednesday.

It was not immediately clear how North Korean ally China and Russia would vote, but a senior U.S. official on Friday night expressed scepticism that either nation would accept anything more stringent than a ban on imports of North Korean textiles.

Chinese officials have privately expressed fears that imposing an oil embargo could risk triggering massive instability in its neighbour.

A Security Council resolution needs nine votes in favour and no vetoes by permanent members Britain, the United States, France, Russia or China to pass.

Tension on the Korean peninsula has escalated as the North has stepped up the development of weapons, testing a string of missiles this year, including one flying over Japan, and conducting its sixth nuclear test on Sunday.

South Korea braced for a possible further missile test by North Korea when it marks its founding anniversary on Saturday.

© Reuters. The United Nations Security Council sits to meet on North Korea after their latest missile test, at the U.N. headquarters in New York City

Experts believe the isolated regime is close to its goal of developing a powerful nuclear weapon capable of reaching the United States, something President Donald Trump has vowed to prevent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.