The UN Security Council yesterday unanimously imposed new sanctions on North Korea following its latest intercontinental ballistic missile test, a move that analysts said could have a significant impact on the isolated country’s struggling economy.
The resolution seeks to ban nearly 90% of refined petroleum product exports to North Korea by capping them at 500,000 barrels a year and, in what diplomats said was a last-minute change, demands the repatriation of North Koreans working abroad within 24 months, instead of 12 months as first proposed.
The US-drafted resolution would also cap crude oil supplies to North Korea at 4mn barrels a year.
