The U.N. Security Council has unanimously approved new sanctions on North Korea including banning exports worth over $1 billion.
The resolution also bans countries from giving any additional permits to North Korean laborers - another source of money for Kim Jong Un's regime.
China fears a spread of USA influence in the region, though China and the US agree on wanting to stop North Korea's nuclear development.
This comes after Pyongyang's first successful tests of intercontinental ballistic missiles capable of reaching the USA mainland.
The resolution targets North Korea's primary exports, including coal, iron, iron ore, lead, lead ore and seafood. This represents one-third of last year's exports. This year, Pyongyang was estimated to earn $251 million from iron and iron ore exports, $113 million from lead and lead ore exports, and $295 million from fish and seafood exports, the diplomat said.
The Security Council has already imposed six rounds of sanctions that have failed to halt North Korea's drive to improve its ballistic missile and nuclear weapons capabilities.
06 de agosto de 2017, 11:49Manila, Aug 6 (Prensa Latina) Chinese and Russian Foreign Ministers, Wang Yi and Serguei Lavrov, respectively, have advised today the Democratic People " s Republic of Korea (DPRK) to suspend its nuclear ballistics tests, but also the United States to defuse its tensions on the Korean Peninsula.
But critics say tightened sanctions have done little to stop North Korea's missile and nuclear development.
Egypt, which holds the Security Council presidency, said a vote on the draft resolution has been scheduled at 3 p.m. EDT on Saturday.
North Korea has already faced a decade's worth of ever-increasing sanctions backed by the USA and its allies.
It was important for all parties to have dialogue to de-escalate the issue, and it was also incumbent on China to ensure that the sanctions on North Korea were fully implemented, said Susan Thornton, acting Assistant Secretary of State East Asian and Pacific Affairs.
US President Donald Trump commended the United Nations council on passing the sanctions, the White House said late Saturday in a statement.
Tillerson said the United States wants to talk eventually with North Korea but thinks discussions would not be productive if Pyongyang comes with the intention of maintaining its nuclear weapons.
Though the economic sanctions have teeth, Washington didn't get everything it wanted.
The measures would be the seventh set of United Nations sanctions imposed on North Korea since it first carried out a nuclear test in 2006.
He said he hoped comments by US Secretary of State Rex Tillerson on Wednesday, that the US is not seeking regime change or to accelerate reunification of North and South Korea or an excuse to send the US military into the region, were honest.
Negotiations for the new resolution began after Pyongyang conducted its first test of an ICBM on July 4.