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.
However, let's not overestimate North Korea's leverage, says Ken Fisher in the Financial Times. "Having intercontinental ballistic missiles doesn't mean he can penetrate US missile defences." Indeed, "intelligence experts largely agree he lacks atmospheric re-entry technology, likely taking any continental hit off the table". China's refusal to block the sanctions show that its leader "is becoming an increasingly isolated figure on the world stage". Finally, note that "North Koreans must be tired of living in abject poverty". The impact of the sanctions "could be fertile soil for the revolution Kim dreads".
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