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Sunday, September 15, 2019
HomeNewsWorldU.N. Sanctions Will Cost North Korea More than $1 Billion in Exports

U.N. Sanctions Will Cost North Korea More than $1 Billion in Exports

North Korean leader Kim Jong Un, center watches a firing contest of the KPA artillery units at undisclosed location in this photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang on January 5, 2016. (Photo: Reuters)
North Korean leader Kim Jong Un, center watches a firing contest of the KPA artillery units at undisclosed location in this photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang on January 5, 2016. (Photo: Reuters)

North Korean leader Kim Jong Un, center watches a firing contest of the KPA artillery units at undisclosed location in this photo released by North Korea’s Korean Central News Agency (KCNA) in Pyongyang on January 5, 2016. (Photo: Reuters)

The new sanctions imposed on North Korea by the United Nations (U.N.) Security Council will cost the rogue regime roughly $1 billion in exports. Resolution 2371 passed unanimously last weekend.

The U.S.-led resolution contains a ban on its largest export, coal, representing a loss to North Korea of over $401 million in revenues per year. It also bans iron and iron ore exports, costing the leftwing communist regime roughly $250 million per year. The seafood ban is estimate to cost North Korea roughly $300 million, while the ban on lead and lead ore is worth roughly $110 million.

The cost to Pyongyang will keep rising, in theory.

T resolution gave the U.N. Security Council’s North Korea Sanctions Committee power to continue to identify additional goods. They are charged with identifying additional conventional arms-related and proliferation-related items to ban to and from North Korea.

Written by
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