United Nations to Propose Sanctions Further Cutting North Korea’s Oil Supply

I doubt the Kim regime is too concerned about new sanctions considering how they continue to evade sanctions through Chinese complicity:

Newly proposed sanctions on North Korea could have a significant effect on the isolated country’s already struggling economy, analysts said ahead of an expected U.N. Security Council vote on Friday, which will hinge on support from China and Russia.  (……)

The draft U.N. resolution, seen by Reuters on Thursday, seeks to ban nearly 90 percent of refined petroleum product exports to North Korea by capping them at 500,000 barrels a year and demand the repatriation of North Koreans working abroad within 12 months.

It would also cap crude oil supplies to North Korea at 4 million barrels a year, as well as ban a number of North Korean exports such as machinery, lumber, and other products and resources.

“If they were enforced, the cap on oil would be devastating for North Korea’s haulage industry, for North Koreans who use generators at home or for productive activities, and for (state-owned enterprises) that do the same,” said Peter Ward, a columnist for NK News, a website that tracks North Korea.

The forced repatriation of foreign workers would also cut off vital sources of foreign currency and investment not only for the government but also for North Korea’s emerging market economy, he said.

“If such sanctions were enforced, they would thus impede and endanger North Korea’s economic development.  [Business Insider]

You can read more at the link, but the big qualifier mentioned in the article is if they are enforced.