Security Council votes sanctions on N Korea blunted by Russia, China

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The United Nations Security Council unanimously approved on Monday new sanctions against North Korea that bans it from importing all natural gas liquids and condensates.

Instead, the resolution caps refined oil imports at 2 million barrels and crude oil imports at their current levels.

Prior to the approval, Trump and the USA treasury secretary threatened to impose unilateral sanctions against any country that trades with North Korea if the Security Council was unable to come to an agreement.

It will lose $1.3 billion in annual revenues, she added. In its earlier draft, the U.S wanted to put a total ban on oil supplies to the North as it could have a crippling impact on its economy and be strong enough to prod Pyongyang to negotiate for its denuclearization.

"This is a text designed for adoption", one source told the Guardian.

"We did it against powers that have thousands of nuclear weapons", Lopez said.

The sanctions fell short of the original U.S. demand for banning foreign travel by North Korean leader Kim Jong-un and freezing his assets.

The answer rests with one man: North Korea's leader Kim Jong-Un.

US' surface to air missile system - Patriot - is used by South Korea and Japan.

But China and Russian Federation, which both hold veto power in Security Council, would only agree to the compromise version enacted, and both expressed their determination to see a return to dialogue to resolve the issue. Republican Chairman Ed Royce said the USA should target Chinese banks, including Agricultural Bank of China Ltd. and China Merchants Bank Co.

"Having launched a series of advanced ballistic missiles, the DPRK shook the planet with its bad nuclear tests again".

"There is a significant prize in keeping the whole of the Security Council united", he told reporters.

A North Korea expert who asked not to be named agreed with the view, saying that the U.S. seems to have left its last cards to play in case the North continues with additional provocations.

"It is up to the worldwide community to see that these resolutions are implemented", he warned.

Beijing and Moscow have recently called for a freeze-for-freeze agreement with North Korea, which would see the USA and South Korea halt military drills on the Korean Peninsula in exchange for Pyongyang stopping its nuclear and ballistic missile programme.

US officials said the new United Nations sanctions - combined with earlier measures - would cut North Korean exports by 90 percent, pinching the regime's ability to get hard currency.

Cutting off hard currency to the Kim regime could undermine Kim's fragile position with the North Korean elites and military leaders whom he needs to keep happy.

These additional measures were also included to limit North Korea's ability to smuggle products like coal and iron - particularly on the high seas.

The US "will face an unprecedentedly resolute counteraction it cannot hold control of" in response to new sanctions, state media channel KCNA said.

Ambassador Han Tae Song also lashed out at the United States during a session of the U.N.'s Conference on Disarmament, saying North Korea denounces Washington's "evil intention" and would "make sure the US pays a due price".

Shortly thereafter Kim Jong-Un threatened to blast the U.S. Pacific island of Guam off the map. A number of existing sanctions were also extended.

He said that both countries "believe there are other things that have to happen, including some that the Trump administration won't like".

Any lasting solution to the Korean problem will require greater trust between China and the United States and sustained negotiations between all interested parties on long term security for the peninsula.

"The textile ban, inspections paragraphs, and joint ventures language are strong", he added.

French ambassador to the UN Francois Delattre stated his support for the US-drafted resolution ahead of Monday's vote. But she also held out the prospect of a peaceful resolution to the crisis. "And today the Security Council is saying that if the North Korean regime does not halt its nuclear program, we will act to stop it ourselves".

North Korea is threatening war, again, should the United Nations pass the harshest sanctions yet to punish the country for its latest nuclear test.