United States presented a new set of tougher Sanctions before UN Security Council which will deprive Pyongyang of $1bn in export revenues.

The UN Security Council is due to vote on these sanctions which will deprive North Korea from coal, iron, iron ore, lead and lead ore and sea food products.

North Korea’s launch of Inter Continental Ballistic Missiles (ICBM) ON July 4 prompted United States for tougher sanctions.

It is said that Russia and China are being consulted over sanction bill draft and will back these new sanctions in the UN Security Council.

New sanctions will set limits on number of workers sent abroad by North Korea and would hamper North Korea from joint business ventures and ban new investment in current joint companies.

This is the seventh set of UN sanctions to be imposed on North Korea since its nuclear test in 2006.

Russia and China had been advocating some peaceful settlement of the ongoing confrontation between US and North Korea.

US have criticized China of not taking a clear stance over North Korean issue.

Russia though has shown concerns over graving tensions but hasn’t been too vocal or practical in curbing the crisis.

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