Analysis Maximum pressure? How UNSCR 2371 will impact North Korea’s economyFor the new measures to have serious bite, they will have to be implemented and enforced like never before ![]() On August 5, the 15 member-states of the United Nations Security Council (UNSC) unanimously passed Resolution 2371, a new sanctions package targeting North Korea. The aggressive new sanctions aim to carve out one-third of Pyongyang’s total export profits: a cool USD$1 billion. Put simply, the scope is unprecedented. 2371 includes an outright ban on purchasing whole sectors of North Korean exports, including some of their biggest money makers: coal, iron, lead, and seafood. It is well known that the Kim regime has been using mineral resources as a lifeline, but the fisheries industry is a lesser known source of currency © Korea Risk Group. All rights reserved. |