North Korea Fired Missiles After U.N. Approved New Sanctions | Financial Buzz

North Korea Fired Missiles After U.N. Approved New Sanctions

North Korea has fired six short-range projectiles into the sea on Thursday, according to BBC, after new sanctions were approved by the United Nations Security Council.

The U.N. Security Council approved new sanctions on North Korea through unanimous voting on Wednesday. Discussion between the U.S. and China took seven weeks, and the new sanctions are considered the toughest in two decades, reflecting growing rage around the global regarding North Korea’s recent rocket launch and nuclear tests. Under the sanctions, all cargo going in and out of North Korea will be inspected by all member states. The export of coal and iron ore to North Korea used for missiles and ballistic missile programs are also prohibited, but the execution and compliance still face challenges. Luxury goods such as luxury watches and snowmobiles worth more than $2,000 were added to the ban as well.  

“Today, the international community, speaking with one voice, has sent Pyongyang a simple message: North Korea must abandon these dangerous programs and choose a better path for its people,” said U.S President Barack Obama.

On Thursday morning, North Korea launched six short-range projectiles that appeared to be missiles off the east coast, a move that is seen as anger and defiance against the new sanctions. Despite previous warnings, North Korea launched the fourth nuclear testing on January 6 and a long-range rocket on February 7. The acts violated the prior sanctions and escalated the tension between North and South Korea, while the old sanctions were considered not effectively enforced by member nations.

“This resolution demonstrates the seriousness of the international community in opposing the further development of DPRK nuclear and missile capacities,” China’s ambassador Liu Jieyi said and called for  resumption of the dialogue, “Today’s adoption should be a new starting point and a paving stone for political settlement of the nuclear issue on the Korean Peninsula.”