United States aims for vote on Saturday to impose sanctions on North Korea’s $3bn export industry following its missile tests in JulyA US-drafted United Nations security council resolution aims to slash by a third North Korea’s $3bn annual export revenue by banning the country’s trade of coal, iron, iron ore, lead, lead ore and seafood. A council diplomat, speaking on condition of anonymity, said there was a “high confidence” that North Korea ally China and Russia would support the draft resolution, which was circulated to the 15 security council members on Friday. China and Russia have 'responsibility' for North Korea nuclear threat, says US Read moreA resolution needs nine votes in favour, and no vetoes by the US, China, Russia, France or Britain, to be adopted. The draft resolution would also prohibit countries from increasing the current numbers of North Korean laborers working abroad, ban new joint ventures with North Korea and any new investment in current joint ventures. Typically, they agree sanctions on North Korea before formally involving other council members.

Source: The Guardian August 05, 2017 00:22 UTC