UN Security Council slaps new sanctions on DPRK over missile launch

Intercontinental ballistic missile (ICBM) Hwasong-14 is pictured during its second test-fire in this undated picture provided by KCNA in Pyongyang on July 29, 2017. KCNA via Agencies

UN Security Council on Saturday imposed new sanctions on the Democratic People's Republic of Korea over its recent two missile tests, cutting one third of its $3 billion annual export revenues.

The US-drafted resolution was adopted unanimously by the 15-member Security Council. It bans all exports of DPRK's coal, iron, iron ore, lead, lead ore and seafood. It prohibits new joint ventures or cooperative commercial entities with DPRK and additional investment in existing ones. It also bans countries from allowing in additional numbers of laborers from DPRK.

The sanction also blacklisted nine DPRK individuals operating abroad as representatives of designated entities (asset freeze and travel ban) and four DPRK commercial entities designated for an asset freeze.

DPRK conducted two intercontinental ballistic missile (ICBM) tests on July 3 and July 28, respectively.

China opposed the DPRK's missile launches in violation of UN Security Council resolutions and against the will of the international community, said China's Ambassador to the UN Liu Jieyi after the vote.

"China has always insisted on realizing the denuclearization of the Korean Peninsula, maintaining peace and stability on the Peninsula and seeking a solution through dialogue and consultation," Liu said.

He said China believes these are the purposes of the new resolution.