The United Nations Security Council unanimously adopted new sanctions against North Korea for their latest nuclear test on 3 September, this week. 

The UNSC Resolution 2375 included sanctions to limit yearly exports of refined petroleum and crude oil to two million and four million barrels respectively, reducing the country’s access to oil to around 30 per cent. 

This has led to oil prices soaring in North Korea, with gasoline now trading at 17,000 North Korean won per kilogram, compared to the 13,000 won (US$101.24) that was existent prior to the test. 

However, this has met with strong condemnation from North Korea. 

According to the North Korean Ambassador, Han Tae-song, North Korea “condemns in the strongest terms and categorically rejects the latest illegal and unlawful U.N. Security Council resolution”. 

He added that North Korea will make the U.S. suffer “the greatest pain it ever experienced in its history”.
This condemnation may be due to the U.S. push for a complete ban on oil for North Korea. As a result, it has been the first time the UNSC has included oil sanctions against the regime.  

In addition, the resolution included ban on exports on North Korean textiles. This was part of UNSC’s attempt to ensure that over 90 per cent of North Korea’s public reported 2016 exports were banned. 

Further, work permits for North Korea workers have also been banned to restrict the source of funds, costing North Korea an estimated amount of $620 million per year.