New sanctions passed against North Korea by the UNSC

Asian shares gain

Asian shares gain

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

Ed Royce, chairman of the US House Foreign Affairs Committee, said on Tuesday at a hearing in Washington that the US government can "unilaterally" designate more Chinese banks and companies for a choice between doing business with North Korea or the US.

"My delegation condemns in the strongest terms, and categorically rejects, the latest illegal and unlawful UN Security Council resolution", Song said.

Moreover, it remained wholly unclear whether the additional penalties would persuade North Korea to halt its nuclear and ballistic missile tests - the latest just a week ago, when it detonated its sixth and most powerful nuclear device.

"This is a compromise in order to get everybody on board", French UN Ambassador Francois Delattre said of the draft ahead of the vote.

It also bans North Korean exports of textiles, a $726 million industry, and phases out North Korea's overseas labor program, which sends 93,000 North Koreans abroad to work in near slave conditions and send their pay back to the regime. A new proposal by the United Nations Security Council sets a cap on oil exports to North Korea, but does not block them altogether.

North Korea risks new sanctions after testing hydrogen bombs.

That would amount to a 10 percent cut in oil products, according to the US Energy Information Administration, which estimates annual exports to North Korea at almost 2.2 million barrels. The United States and its allies argue that tougher sanctions will pile pressure on Kim's regime to negotiate an end to its nuclear and missile tests.

Pyongyang has staged a series of missile tests in recent months that appeared to bring much of the U.S. mainland into range, followed by the September 3 nuclear blast. It said the US would pay a "due price" if the sanctions proposed by Washington, D.C. are adopted.

"The world will witness how the DPRK tames the United States gangsters by taking (a) series of action tougher than they have ever envisaged".

Trump gave no details about what he expected to happen but has in the past threatened military action against North Korea if it continues its provocations. North Korea's suspension of tests this weekend had led to a small rise in their stocks.

However on Tuesday some of China's major state-owned banks reportedly stopped providing financial services to new North Korean clients, in what could be a sign of increased sanctions enforcement to prevent any US retaliation.

"I think we've absolutely moved the needle on China", he said. "The alternative is, after all, a slide toward war".

After that approx a month later, FireEye published information how NK hackers were taking aim at around three SK virtual currency exchanges to steal funds.

Chinese officials have privately expressed fears that an oil embargo could risk causing massive instability in their neighbour.

Chinese foreign ministry spokesman Geng Shuang declined to comment on the report on Monday.

Still, America's United Nations envoy Nikki Haley told the Security Council after the vote that the new sanctions are the strongest imposed on North Korea and will "cut deep" as they target the regime's ability to fuel and fund its weapons programme.

When asked if the changes would be enough to win over Russian Federation and North Korean ally China, British UN Ambassador Matthew Rycroft said on Monday: "Yes".

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