The Hanoitimes - The sanctions leave direct impact on North Korean economy shown through a sharp decline in exports last year. What are visions for the denuclearization after second no-deal summit? The failure of the second Trump-Kim summit in Hanoi suggests sanctions remain a big issue between the US and North Korea, foreign media quoted international experts as saying. The UN Security Council votes to adopt a resolution imposing sanctions against North Korea. Photo: Getty Images North Korean nuclear negotiator Kim Yong Chol told Secretary of State Mike Pompeo in May 2018 that Pyongyang’s shift away from weapons was “not a result of sanctions that have been imposed from outside.” But in July 2018, Seoul-based Bank of Korea estimated the North Korean economy had seen its biggest decline in two decades, with the country’s real annual gross domestic product (GDP) falling by 3.5% in 2017 while exports declined 37.2% in 2017 alone. … [Read more...] about How much do US-led sanctions hurt North Korea economy?
Sanction on north korea
White House says 'powerful' sanctions to remain on North Korea A combination photo shows U.S. President Donald Trump and North Korean leader Kim Jong Un (R) in Washignton, DC, U.S. May 17, 2018 and in Panmunjom, South Korea, April 27, 2018 respectively – PHOTO: REUTERS WASHINGTON (REUTERS) - The White House said on Monday its policy of tough sanctions on North Korea has not changed, days after U.S. President Donald Trump said he no longer wanted to use the phrase “maximum pressure” to describe the campaign to press North Korea to give up its nuclear weapons. After meeting a senior official from Pyongyang at the White House on Friday, Trump said North Korea was being more cooperative and that although sanctions would remain in place, he would hold off on imposing new ones. Trump said he didn’t want to use the term “maximum pressure” any more, because the two sides were “getting along.” Asked at a news briefing on Monday whether … [Read more...] about White House says ‘powerful’ sanctions to remain on North Korea
The United Nations Security Council blacklisted dozensof ships and shipping companies on Friday over oil and coal smuggling by North Korea, boosting pressure on Pyongyang as leader Kim Jong Un plans to meet with his South Korean and U.S. counterparts. The council's North Korea sanctions committee acted on a request by the United States, designating 21 shipping companies - including five based in China - 15 North Korean ships, 12 non-North Korean ships and a Taiwanese man. The move comes days after Kim met Chinese President Xi Jinping and an announcement that the North Korean leader would meet South Korean President Moon Jae-in on April 27. He is also scheduled to meet U.S. President Donald Trump some time in May. While Trump has agreed to meet Kim, he tweeted on Wednesday that "maximum sanctions and pressure must be maintained." Tension over North Korea's tests of nuclear weapons and ballistic missiles surged last year and raised fears of U.S. military action in response to the North's … [Read more...] about UN blacklists dozens of ships, companies over North Korea smuggling
The UN Security Council approved new sanctions against North Korea on February 22, 2018 (Photo: AFP/VNA) The new restrictions focused on new and used vessels, food and farm products, electrical equipment, and wood, the Indian government said in a statement. Curbs were toughened on the export of industrial machinery, vehicles, iron, steel, and other metals. New Delhi has cut back on trade with North Korea but maintains its diplomatic channels. Russia said US sanctions on North Korea for the assassination of North Korean citizen Kim Chol are illegal. Russian Foreign Ministry spokeswoman Maria Zakharova said the sanctions will not be approved by the UN Security Council. Japan and the US will step up their investigation of a North Korean nuclear factory to gauge the North’s willingness to denuclearize. Japan wants to pressure North Korea to approve the IAEA’s access to nuclear zones in the Yongbyon nuclear complex, 100 km north of Pyongyang. … [Read more...] about India limits trade with North Korea
After meeting with Japanese Prime Minister Shinzo Abe, Pence said the US will intensify its maximum pressure campaign until North Korea takes concrete steps toward complete, verifiable, and irreversible denuclearization.Abe reinforced the message from the US, saying both countries will reaffirm their policy pressuring North Korea when their leaders meet with South Korean President Moon Jae-in. … [Read more...] about US to impose ‘toughest ever’ sanctions on North Korea