North Korea is a Growing Threat

North Korea is a Growing Threat

Pyongyang promised to accelerate its weapons program.

“The DPRK will redouble the efforts to increase its strength to safeguard the country’s sovereignty and right to existence and to preserve peace and security of the region by establishing a practical equilibrium with the US,” a statement from North Korean Foreign Ministry said, as cited by KCNA news agency.

North Korea dubbed the UN resolution “illegal and evil”, saying that it was clearly “piloted” and “fabricated” by the United States.

The resolution is “a product of heinous provocation aimed at depriving the DPRK of its legitimate right to self-defense and completely suffocating its state and people through a full-scale economic blockade,” the statement went on.

According to the ministry, the resolution “served as an occasion for the DPRK to verify that the road it chose to go down was absolutely right, and to strengthen its resolve to follow this road at a faster pace without the slightest diversion until this fight to the finish is over.”

America Ready for War

Donald Trump has expressed doubt that the new sanctions on Pyongyang will have “any impact,” but said it was “nice” of UNSC to unanimously approve the US-drafted resolution watered down to accommodate Russian-Chinese concerns.

“We think it’s just another very small step, not a big deal,” Trump told reporters at the start of his meeting with Malaysian Prime Minister Najib Razak.

“I don’t know if it has any impact, but certainly it was nice to get a 15-to-nothing vote, but those sanctions are nothing compared to what ultimately will have to happen,” said Trump, according to Reuters

The US has still not ruled out a military option to halt North Korea’s nuclear development, the White House confirmed Tuesday.

“The President is committed to taking every step and keeping all options on the table in order to have a denuclearized Korean Peninsula,” White House spokeswoman Sarah Sanders told reporters.

After a number of last minute compromises, China and Russia went on to support the latest round of sanctions against Pyongyang Monday. The ninth set of punitive UNSC measures against the communist regime fell significantly short of the far-reaching consequences the Trump administration had demanded following North Korea’s sixth nuclear test earlier this month.

Instead of banning oil imports altogether, the sanctions authorized an annual cap of 2 million barrels of refined petroleum products to North Korea. The sanctions also place a limit on crude oil exports to the communist regime at current levels. The UNSC also imposed a ban on the country’s textile exports, North Korea’s second-biggest export.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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