NKorea rejects United Nations sanctions, says U.S. will suffer

A North Korean soldier stands on the bank of the Yalu River in Sinuiju North Korea which borders Dandong in China's Liaoning province

A North Korean soldier stands on the bank of the Yalu River in Sinuiju North Korea which borders Dandong in China's Liaoning province

The Security Council on Monday unanimously voted a fresh round of sanctions to punish North Korea for its nuclear and missile programmes, but the measures sought by the United States were blunted by China and Russian Federation.

United Nations member states will halt imports of textiles from North Korea, its second largest export after coal and other minerals in 2016 that totalled $US752 million ($A935 million) and accounted for a quarter of its income from trade, according to South Korean data.

"If it proves it can live in peace, the world will live in peace with it", she told the UN Security Council after the council adopted the new sanctions.

But despite the U.S. assessment that these are the strongest measures ever imposed on North Korea, some experts said that their impact will only be effective if paired with additional sanctions.

United States ambassador Nikki Haley said Monday at the United Nations the tough new measures were a message to Pyongyang that "the world will never accept a nuclear-armed North Korea".

"Our deep belief is that only a firm reaction of the council can open the path towards a political solution to this crisis". The US should look to engage diplomatically to find a level of security that North Korea and its neighbours will be happy with, he said. "On the other hand, if North Korea continues its unsafe path, we would continue with further pressure". "The choice is theirs".

Man from Sennybridge army camp charged with terrorism offences
After confirming his details to the court Deakin said: "I'm a prisoner of conscience, I believe I'm innocent of these charges". A man from Northampton and another from Ipswich, both aged 24, were released without charge on Saturday following inquiries.

US Ambassador to the UN Nikki Haley said the bans on textile exports and overseas workers alone would starve the Pyongyang of at least $1.3bn in annual revenues - an estimated $800 million and $500 million respectively.

Under the measure, countries are authorised to inspect ships suspected of carrying banned North Korean cargo but must first seek the consent of the flag-state. "The irresponsible policy of North Korea negatively affects the global nuclear non-proliferation process and undermines the collective efforts to ensure a nuclear-free future of the planet", he stressed in the speech. He urged Pyongyang to take "concrete action" toward denuclearization.

Lawmakers pressed State and Treasury Department officials for evidence new sanctions would be more effective.

President Donald Trump said on Tuesday the latest United Nations sanctions on North Korea were only a very small step and nothing compared to what would have to happen to deal with the country's nuclear program.

Chinese UN ambassador Liu Jieyi again called for talks "sooner rather than later".

The resolution requires the end of all joint ventures with North Korea.

The Goodyear Tire & Rubber Company (NASDAQ:GT) - Lookout for Relative Strength Index
It improved, as 52 investors sold Cempra Inc shares while 34 reduced holdings. 23 funds opened positions while 39 raised stakes. The stock of Goodyear Tire & Rubber Co (NASDAQ:GT) has "Overweight" rating given on Thursday, June 1 by Morgan Stanley.

"Primarily these sanctions will affect the civilian population whose oil product uses are of lower priority to the [North Korean] state", the report said.

The U.N. resolution caps the amount of crude oil sold to North Korea each year at 4 million barrels.

"I can not tell the committee today that we've seen sufficient evidence of China's willingness to truly shut down North Korean revenue flows, to expunge North Korean elicit actors from its banking system or to expel the various North Korean brokers and middlemen who are continuing to establish webs of front companies", Billingslea said.

But analysts were sceptical about their impact. "This will cut deep", she said.

French ambassador to the UN Francois Delattre stated his support for the US-drafted resolution ahead of Monday's vote.

Hewlett Packard Enterprise Co (HPE) Hit Yearly Low
Gabelli also issued estimates for Hewlett Packard Enterprise's FY2020 earnings at $1.25 EPS and FY2021 earnings at $1.30 EPS. According to Thomson Reuters, sell-side analysts are predicting a consensus target price of $15.74 on company stock.

Latest News