UN tightens squeeze on North Korea

The United Nations Security Council has approved new sanctions to punish North Korea for its latest missile and nuclear tests.

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The UN Security Council voted for tougher sanctions on North Korea
(Image credit: 2017 Getty Images)

The United Nations Security Council has approved new sanctions to punish North Korea for its latest missile and nuclear tests. The measures include cutting imports of refined petroleum products to two million barrels a year and banning textile exports, reports Bloomberg's Kambiz Foroohar. The fact that they were able to persuade Russia and China to agree to the restrictions will allow the US "to claim victory". However, the measures fall short of the "ban on oil and a freeze on Kim [Jong-un]'s assets abroad" the US had sought.

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Dr Matthew Partridge
MoneyWeek Shares editor