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U.S. proposes sanctions banning oil to North Korea, freezing assets

UNITED NATIONS -- In the wake of North Korea's sixth nuclear test, the U.S. delegation to the U.N. has circulated a draft resolution that would ban all exports of natural gas and oil to the country, as well as freeze assets of North Korean leader Kim Jong Un and his government around the globe.

The proposed resolution would mark the first time Kim's assets have been personally targeted by economic sanctions. CBS News obtained a draft of the resolution Wednesday.

The draft, which was circulated to the 15-member Security Council, would impose an oil embargo, ban payments to North Korean "guest workers" and ban textile exports, with the goal of punishing North Korea for its rapidly progressing missile and nuclear programs.

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At a Security Council meeting on Monday, U.S. Ambassador Nikki Haley said "enough is enough" and set Sept. 11 as the target date for the adoption of new sanctions. The recent flurry of diplomatic activity, including a call between President Trump and Chinese President Xi Jinping on Wednesday, comes after North Korea conducted its sixth and largest nuclear test on Sunday.

The resolution requires the approval of Russia and China, both of whom are opposed to further sanctions and have balked at the threats of the use of military force.

North Korea's "proliferation of nuclear, chemical and biological weapons, as well as their means of delivery, constitutes a threat to international peace and security," the resolution states. The draft charges that the North's ongoing nuclear- and ballistic missile-related activities have destabilized the region and beyond.

The resolution would authorize countries "to interdict and inspect Committee-designated cargo vessels on the high seas" and bans exports of crude oil, refined petroleum products and natural gas liquids. It would bar the hiring and payment of North Korean laborers and imposes a freeze on all financial assets belonging to Kim, the governing party and the government itself around the world.

In response to Russian concerns about additional sanctions hurting the North Korean people, the resolution "expresses deep concern at the grave hardship to which the people in [North Korea] are subjected" and calls for the resumption of diplomatic talks.

The draft also proposes an assets freeze on six other entities, including Air Koryo, the state-owned airline, which it charges is involved "in illegal air shipments of arms and related materials."  

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