North Korea Could Lose $1 Billion in Exports Under U.S. Proposed Measure

A possibly crippling proposal by the U.S. to the U.N. Security Council would cut $1 billion of North Korea’s annual export revenue, the most impactful proposal in 11 years. North Korea makes $3 billion a year through the exportation of coal, iron, lead and seafood.

The measure is in response to North Korea’s missile test on July 4th, which experts say had the capability to reach Alaska. China, one of North Korea’s most important allies, is expected to ratify the measure which could be enacted as soon as Saturday.

It would also place financial restrictions on the communist state and limit its ability to send workers abroad, which is an

North Korea Total Trade
North Korea total import and export trade until 2013. Source: CNBC

other key source of revenue. While the measure could potentially deter North Korea’s ability to launch a missile, it will be detrimental to the millions of North Korean citizens who are already suffering at the benefit of their leader, Kim Jong Un.

Source: NYT

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