Trading Century
  • Trading News
  • Economy
  • Editor’s Pick
  • Finance
  • Investing
  • Politics
  • Stock
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Email Whitelisting
  • Contact
Subscribe
Trading Century
Trading Century
  • Trading News
  • Economy
  • Editor’s Pick
  • Finance
  • Investing
  • Politics
  • Stock
  • Politics
  • Stock
  • Trading News

China, Russia veto US push for more UN sanctions on North Korea

  • May 27, 2022
PXHERE

UNITED NATIONS — China and Russia vetoed on Thursday a US-led push to impose more United Nations sanctions on North Korea over its renewed ballistic missile launches, publicly splitting the UN Security Council for the first time since it started punishing Pyongyang in 2006. 

The remaining 13 council members all voted in favor of the US-drafted resolution that proposed banning tobacco and oil exports to North Korea, whose leader Kim Jong Un is a chain smoker. It would also have blacklisted the Lazarus hacking group, which the United States says is tied to North Korea. 

The vote came a day after North Korea fired three missiles, including one thought to be its largest intercontinental ballistic missile (ICBM), following US President Joseph R. Biden Jr.’s trip to Asia. It was the latest in a string of ballistic missile launches this year, which are banned by the Security Council. 

US Ambassador to the UN Linda Thomas-Greenfield described the vote as a “disappointing day” for the council. 

“The world faces a clear and present danger from the DPRK (North Korea),” she told the council. “Council restraint and silence has not eliminated or even reduced the threat. If anything, DPRK has been emboldened.” 

She said Washington had assessed that North Korea had carried out six ICBM launches this year and was “actively preparing to conduct a nuclear test.” 

Over the past 16 years the Security Council has steadily, and unanimously, stepped up sanctions to cut off funding for Pyongyang’s nuclear weapons and ballistic missile programs. It last tightened sanctions on Pyongyang in 2017. 

Since then China and Russia have been pushing for an easing of sanctions on humanitarian grounds. While they have delayed some action behind closed doors in the Security Council’s North Korea sanctions committee, the vote on the resolution on Thursday was the first time they have publicly broken unanimity. 

“The introduction of new sanctions against the DPRK (North Korea) is a path to a dead end,” Russia’s UN Ambassador Vassily Nebenzia told the council. “We have stressed the ineffectiveness and the inhumanity of further strengthening the sanctions pressure on Pyongyang.” 

China’s UN Ambassador Zhang Jun said that additional sanctions against North Korea would not help and would only lead to more “negative effects and escalation of confrontation.” 

“The situation on the Peninsula has developed to what it is today thanks primarily to the flip flop US policies and failure to uphold the results of previous dialogues,” he told the council. 

China has been urging the United States to take action — including lifting some unilateral sanctions — to entice Pyongyang to resume talks stalled since 2019, after three failed summits between Kim and then-US President Donald Trump. The United States has said Pyongyang should not be rewarded. 

The UN General Assembly will now discuss North Korea in the next two weeks under a new rule requiring the 193-member body to meet every time a veto is cast in the Security Council by one of the five permanent members — Russia, China, the United States, France and Britain. — Reuters

Previous Article
  • Politics
  • Stock
  • Trading News

China strategy is about rules-based order, not ‘new Cold War,’ Blinken says 

  • May 27, 2022
View Post
Next Article
  • Politics
  • Stock
  • Trading News

A first look: How financial intermediaries can integrate crypto

  • May 27, 2022
View Post
You May Also Like
View Post
  • Trading News

Waller Offers Common Sense View on Financial Risks of Climate Change

  • May 29, 2023
View Post
  • Trading News

Ga. Reps Slice Possible Lifeline for Kids in Failing Schools

  • April 5, 2023
View Post
  • Trading News

Silicon Valley Bank: Mismanagement Is Not an Excuse for Inefficient Regulation

  • April 3, 2023
View Post
  • Trading News

Fetterman released from inpatient treatment for depression

  • April 1, 2023
View Post
  • Trading News

Fetterman released from inpatient treatment for depression

  • April 1, 2023
View Post
  • Trading News

Fetterman released from inpatient treatment for depression

  • April 1, 2023
View Post
  • Trading News

Fetterman released from inpatient treatment for depression

  • April 1, 2023
View Post
  • Trading News

Fetterman released from inpatient treatment for depression

  • April 1, 2023
Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.


    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



    If you want to delve into the USA business updates and investors daily routine,
    go to our partner project Daily Business Investor.

    TradingCentury.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.

    Copyright © 2023 Trading Century. All Rights Reserved.

    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • About Us
    • Privacy Policy
    • Terms & Conditions
    • Email Whitelisting
    • Contact
    Trading Century
    Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

    Input your search keywords and press Enter.