UN SECURITY COUNCIL IMPOSES NEW SANCTIONS ON NORTH KOREA - FINANCIAL-24
United Nations (CNN) - The United Nations Security Council on Saturday passed a resolution imposing new sanctions on North Korea for its continued intercontinental ballistic missile (ICBM) testing and violations of UN resolutions.
With 15 votes in favor, Resolution 2371 was passed unanimously.
The resolution targets North Korea's primary exports, including coal, iron, iron ore, lead, lead ore and seafood. The sanctions also target other revenue streams, such as banks and joint ventures with foreign companies.
The sanctions will slash North Korea's annual export revenue of $3 billion by more than a third, according to a statement from the office of Nikki Haley, the US ambassador to the United Nations.
The resolution represents "the strongest sanctions ever imposed in response to a ballistic missile test," the statement said.
The UN sanctions follow extra measures against North Korea signed into law by US President Donald Trump on Wednesday.
North Korea's state-run newspaper Rodong Sinmun carried an article Sunday warning that the United States' only option will be self-destruction unless it gives up its "hostile policy" against Pyongyang.
"The US mainland will sink into an unimaginable sea of fire on the day when it dares to touch our country by stupidly causing mischief and brandishing its nuclear and sanctions clubs," the commentary -- under the byline Ri Hyo Jin -- warned.
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