N. Korea faces new barrage of sanctions

United Nations : The United States and the European Union yesterday moved to impose new unilateral sanctions on North Korea as South Korea warned the United Nations of the risk of accidentally igniting a war.

After threatening to “totally destroy North Korea” in his first address to the General Assembly, US President Donald Trump signed an executive order targeting foreign companies doing business with North Korea, ratcheting up pressure on Pyongyang.

In Brussels, the 28-country EU agreed to a ban on investments in North Korea and on EU exports of oil, diplomatic sources said.

Trump said China’s central bank had ordered national banks to curb their dealings with North Korea, describing the move as “very bold” and “unexpected.” 

The threat from North Korea’s nuclear and missile tests has dominated this year’s gathering of world leaders, but divisions remain over how to confront Pyongyang. North Korea detonated its sixth nuclear bomb and has test-fired intercontinental missiles -- saying it needs to defend itself against hostility from the United States and its allies. Washington and its allies hope the tough economic sanctions will sway Pyongyang to come to the table and negotiate an end to its nuclear and missile programs. The US administration has refused to offer North Korea incentives to open negotiations and has ramped up threats of military action to force leader Kim Jong-Un -- whom Trump has dubbed “Rocket Man” -- to change course.

But meeting with Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in, Trump said “Why not?” when asked whether there could be a dialogue with North Korea.

S. Korea warning

In his address to the UN assembly, Moon struck a different tone after Trump’s fiery speech, saying the crisis needs to be “managed” to prevent an accidental outbreak of war.

Moon said South Korea was not seeking the collapse of its neighbor and was ready to help if Pyongyang decides “to stand on the right side of history” and halts its provocations. - AFP