UN Security Council Passes New Sanctions on North Korea
They could cut North Korea's yearly export revenue by a third
By Michael Harthorne,  Newser Staff
Posted Aug 5, 2017 3:33 PM CDT
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British Ambassador to the UN Matthew Rycroft, left, and American Ambassador to the UN Nikki Haley vote during a Security Council meeting Saturday on a new sanctions resolution that would increase economic pressure on North Korea to return to negotiations on its missile program.   (AP Photo/Mary Altaffer)

(Newser) – The UN Security Council unanimously approved new sanctions against North Korea on Saturday in response to recent ballistic missile tests, CNN reports. According to Reuters, the new sanctions ban North Korean exports of coal, iron, lead, seafood, and more. It also bans countries from bringing in more North Korean laborers and prohibits any new joint ventures with North Korea or new investments in current joint ventures. The new sanctions could cut North Korea's $3 billion in annual export revenue by a third. "We said that the time for talking was over and that it was time for action. Today you're going to see the action. It's going to hit hard, but it's going to make a strong point," says US Ambassador to the UN Nikki Haley, who decried "this ICBM and this nuclear irresponsibility."

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