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ibusinesslines.com July 16, 2018


UN Security Council condemns DPRK over missile launch, stresses political solution

17 September 2017, 09:53 | Erica Roy

Will China turn off North Korea's oil

Will China turn off North Korea's oil

Such moves by North Korea "have seriously affected the peace and stability of the Korean Peninsula", MFA said.

In a press statement released after closed-door consultations, the 15 members of the council urged all United Nations member states to "fully, comprehensively and immediately" implement all relevant Security Council resolutions concerning the DPRK, particularly the newly adopted Resolution 2375, which caps the DPRK's oil imports and bans all its textile exports and remittances by its overseas laborers.

"The Secretary-General calls on the DPRK leadership to cease further testing, comply with the relevant Security Council resolutions, and allow space to explore the resumption of honest dialogue on denuclearisation", Guterres said in a statement, adding that he would discuss it "with all concerned parties in the margins of the upcoming" U.N. General Assembly.

Turkey condemned the latest the ballistic missile launch, saying that it would lead to further deteriorate the global security.

The UNSC referred to the latest launch as a "manifest violation" of Security Council resolutions that comes less than two weeks after the DPRK conducted a test of a nuclear device on 3 September and only three days after the Security Council unanimously adopted fresh sanctions against the country.

Russian ambassador Vassily Nebenzia warned that there is no alternative to a peaceful solution.


"The fact that we've had the missile event means that short-term speculative traders can now refocus on the macro", said MUFG's head of macro strategy in London, Derek Halpenny.

"Threats, tests, launches, mutual threats should be stopped".

Tensions on the Korean Peninsula escalated recently after US President Donald Trump threatened to deal with the DPRK with "fire and fury" last month.

Cayetano will consult with other foreign ministers of the Association of Southeast Asian Nations in NY to discuss what Asean can do to help reduce tensions in the Korean Peninsula.

The new resolution, passed by the Security Council on Sep 12, imposed more sanctions on the isolated dictatorship.

One of the missiles flew 250 kilometers - that is, the distance to the establishment of the Pyongyang polygon from where the ballistic missile was launched earlier this morning, and hit the test set.



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