UN to vote on tougher North Korea sanctions

The UN Security Council will vote on Saturday on a US-drafted resolution toughening sanctions on North Korea, diplomats have said, a proposed ban on certain exports that could deprive Pyongyang of 1 billion in annual revenue. After a month of negotiations, the United States reached a deal with China, North Korea's main trading partner and ally, on the measures aimed at ratcheting up pressure on Pyongyang to halt its missile and nuclear tests. The Security Council was scheduled to vote at 3 pm today on the new raft of sanctions, diplomats confirmed. The draft resolution calls for a ban on all exports of coal, iron and iron ore, lead and lead ore, as well as fish and seafood by the cash-starved state. If implemented by all countries, the ban would strip Pyongyang of roughly a third of its export earnings estimated at 3 billion per year, according to a diplomat familiar with the negotiations. The diplomat, who briefed reporters on the content of the draft, said he had "high confidence" that China and Russia would support the proposed sanctions. Backed by its European allies, Japan and South Korea, the United States has been leading the push at the United Nations for tougher sanctions in response to North Korea's launch of an intercontinental ballistic missile on July 4.