Even if sanctions bite, will North Korea give up its nukes?

Rex Tillerson US North Korea US Secretary of States Rex Tillerson

There was no direct reaction from North Korea to Tillerson’s remarks

It also prohibits countries from increasing the current numbers of North Korean labourers working overseas, bans new joint ventures with North Korea and any new investment in current joint ventures.

Wang said that apart from the new sanctions, the resolution also made clear that the six party talks process, a stalled dialogue mechanism with North Korea that also includes Russian Federation and Japan, should be restarted. The United States had to figure out how far China and Russian Federation were willing to go.

Earlier in the day, South Korean President Moon Jae-in and his U.S. counterpart, Donald Trump, agreed to cooperate and apply maximum pressure on North Korea in a telephone call, as Chinese media warned of the limits of new United Nations sanctions.

Serious questions remain, however, about whether China and Russian Federation will enforce the sanctions as they have vowed to do, and whether the increased punishment against the Kim regime will actually work, even if it is enforced.

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Vasapoli told the Union Leader the hospital is working with the fire department and police departments to transfer patients. Patients and other staff members in the hospital's operating room later became ill, she said.

"The puppet authorities that have been jabbering thoughtless words will pay with the most devastating and harsh punishment", the council said, according to Pyongyang's state-controlled news agency KCNA.

Building nuclear weapons and advancing a missile program isn't cheap. All countries are now banned from importing North Korean coal, iron, lead and seafood products, and from letting in more North Korean laborers who sent remittances back into the country. "They're not going to be able to continue their programs and keep their elites happy and keep the military happy".

The other mounting concern: that by the time the sanctions really start cutting into the North's economy, potentially changing the government's thinking about the wisdom of pursuing nuclear weapons, it may be too late. Since Saturday's U.N. Security Council vote, Washington has put Beijing in particular on notice that it's watching closely to ensure China doesn't repeat its pattern of carrying out sanctions for a while, then returning to business as usual with the pariah nation on its border.

Nicholas Burns, a former US ambassador to North Atlantic Treaty Organisation and undersecretary of state for political affairs during the George W. Bush administration, told CBS New on Monday that it is "unlikely" the sanctions will work in the end, because of the huge value the Kim regime puts on its nuclear and weapons programs.

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Spot gold was 0.1 percent lower at $1,276.78 an ounce after having spiked the previous day to a near two-month peak of $1,278.66. Trump tweeted on Wednesday about the strength of the American nuclear arsenal, but expressed hope it would not need to be used.

Another big thing the sanctions don't address is the oil that China exports to North Korea. The South Korean envoy held a rare but brief meeting in Manila with North Korea's top diplomat, who also spoke by phone with Russian Foreign Minister Sergey Lavrov, who had discussed the sanctions with Tillerson a day before.

Burns, now a professor at Harvard's Kennedy School, told CBS News that the prospect of a border rush isn't the only reason China doesn't want to see the North Korean regime collapse.

US Secretary of State Rex Tillerson said on Monday that a UN Security Council vote to impose sanctions on North Korea showed that world powers were united behind a push for a denuclearised Korean peninsula.

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