North Korea: EU approves tighter sanctions (+video)

The sanctions expand those approved by the UN Security Council in January, adding measures that prevent trading in North?Korean government bonds, gold, precious metals, and diamonds.

By Reuters / February 18, 2013

North Korean soldiers ride an escalator past a model of their country's Unha Rocket as they enter an exhibition in Pyongyang on Sunday. On Monday, the European Union approved tighter sanctions against North Koran, expanding on those approved by the UN in January.

David Guttenfelder/AP

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European Union?governments agreed on Monday to tighten sanctions against North Korea, restricting the country's ability to trade following last week's nuclear test.

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US Secretary of State John Kerry urged "strong, credible" response from world leaders after North Korea's nuclear test.

The sanctions expand those approved by the U.N. Security Council in January, adding measures preventing trading in North?Korean government bonds, gold, precious metals, and diamonds, EU diplomats said.

"We have pushed for enhancing the sanctions. This is the answer to a nuclear programme which endangers not only the region but the whole security architecture worldwide,"?Germany's Foreign Minister?Guido Westerwelle?said during a meeting with his EU counterparts in?Brussels.

The new sanctions ban components that could be used in ballistic missiles such as "certain types of aluminium used in ballistic missile-related systems".

North?Korea?was widely condemned last week after its third nuclear test since 2006, defying?United Nations?resolutions and putting the country closer to a workable long-range nuclear missile.

North Korean banks will also barred from opening new branches in the?European Union?and European banks would not be able to open new branches in the northeast Asian state. Diplomats could not say if North?Korean banks had any branches in the EU

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/o1PGgUH17-w/North-Korea-EU-approves-tighter-sanctions-video

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