Less than 48 hours after China agreed to vote alongside the United States to impose new sanctions against its trading partner and ally, the U.S. warned Beijing it would look to cut off its access to both the USA financial system and "international dollar system" if it violated the sanctions.
Meanwhile, North Korea appears to be stepping up efforts to secure bitcoin and other cryptocurrencies, which could be used to avoid trade restrictions including new sanctions approved by the U.N. Security Council on Monday. It also bans North Korean exports of textiles, a $726 million industry, and phases out North Korea's overseas labor program, which sends 93,000 North Koreans abroad to work in near slave conditions and send their pay back to the regime.
During tough negotiations, the United States dropped initial demands for a full oil embargo and a freeze on the foreign assets of North Korean leader Kim Jong-Un.
State Department spokeswoman Heather Nauert said Tuesday that the United Nations resolution represented "the strongest set of sanctions" so far, adding that "that's significant". He did not elaborate.
Haley addressed the question of how to enforce the sanctions, saying it would present a challenge but expressing optimism given Chinese cooperation on the resolution.
On Tuesday, the government of Cambodia also expressed it regret and grave concern over the testing of ICBMs, which it said is a threat to the security and stability to the Korean Peninsula and the region and called on the DPRK to comply with the UNSC resolutions and its global obligations to cease nuclear and missile tests. "Another problem is that, if both North and South Korea obtain nuclear arsenals, it could cause nuclear weapons to spread in Northeast Asia", Lee said. Both China and Russian Federation, by far Kim Jong Un's largest trade partners, are concerned enough about his ongoing illegal missile and nuclear weapon development programs to side with the U.S.in seeking to stop him. That has have failed to stop its progress toward developing a nuclear-tipped missile that could soon range the American mainland. The North Korean regime has not passed the point of no return ... Back in August, the United Nations banned North Korean exports of materials such as coal and ore.
In addition, the UNSC empowered countries to inspect ships going in and out of North Korea's ports but did not authorize the use of force to conduct such searches as the Trump administration had originally proposed. If it could impose such harsh sanctions on North Korea for its unruly behaviour, why is it, at the same time, ignoring the Rohingya crisis?
Those tools include more sanctions.
"If China doesn't follow these sanctions, we will put additional sanctions on them and prevent them from accessing the USA and worldwide dollar system, and that's quite meaningful", he told a conference in NY, broadcast on CNBC.
Billingsea described the action as "a very clear warning shot that the Chinese understood".
The ministry also that the adoption of another "illegal and evil" resolution provided the opportunity for the DPRK to "verify that the road it chose to go down was absolutely right and to strengthen its resolve".
Lawmakers who spoke Tuesday supported the USA pressure tactics, while voicing skepticism that North Korea could be forced into abandon nuclear weapons it regards as a guarantee of survival for the Kim dynasty.
In a Twitter post last week, President Donald Trump said, "I am allowing Japan & South Korea to buy a substantially increased amount of highly sophisticated military equipment from the United States".
Describing the North's access to hard currency as its "Achilles heel", he urged the administration to target more entities dealing with North Korea, particularly Chinese banks.
A person answering the customer hotline at the world´s largest lender, Industrial and Commercial Bank of China Ltd (ICBC), said the bank had stopped opening accounts for North Koreans and Iranians since July 16.