North Korea Tuesday condemned "vicious" new United Nations sanctions imposed over its sixth and largest nuclear test, warning it would make the USA "suffer the greatest pain" it has ever experienced.
Washington and its allies have said there is a growing urgency for China, North Korea's top ally and trading partner, to apply more pressure on its already isolated neighbor to get it to back down on its nuclear weapons and missiles programs.
China and Russian Federation are putting forward a roadmap for the settlement of the North Korean crisis via diplomatic means; however in this scenario it seems like calling the U.S. to the round table is more hard than calling on the DPRK, according to political analyst Konstantin Asmolov, in an interview with Sputnik.
The new resolution calls for firing 93,000 North Korean workers employed overseas when their contracts expire.
"In case the USA eventually does rig up the illegal and unlawful "resolution" on harsher sanctions, the DPRK shall make absolutely sure that the US pays due price", the spokesman said in a statement carried by the official KCNA news agency.
Meanwhile, Japanese broadcaster NHK cited a Chinese source as saying that China's four state-run banks - the Bank of China, China Construction Bank, Agricultural Bank of China and Industrial and Commercial Bank of China - told all North Koreans including diplomats to withdraw their money by August 31 and halted all further transactions with them.
"It's not believed that North Korea has strong links in the conventional sense to the United States, but we have seen that North Korea is able to access products from the United States of America".
Pyongyang carried out its sixth and strongest nuclear test on September 3, claiming it successfully detonated a hydrogen bomb that can tip a ballistic missile.
The U.N. has followed through on projected sanctions against Pyongyang over Kim Jong-un's repeated refusal to put down his collection of intercontinental ballistic missiles, and especially for his regime's development of mini-nukes that can be strapped onto those ICBMs.
The UNSC is due to vote on a US-drafted resolution concerning North Korea today, which aims to ban the country's oil trade, textile exports and labour force employment outside its borders.
That was despite a more forceful diplomatic tone on the crisis and warnings on the scale and immediacy of the threat from U.S. President Donald Trump's new ambassador to NATO, France's defence minister and the alliance's deputy head.
Earlier Tuesday, China's Foreign Ministry spokesman Geng Shuang said Beijing strictly enforces all United Nations resolutions.
Outright military conflict on the Korean peninsula is unlikely but prolonged tension surrounding the North's weapons program could undermine business and consumer sentiment and dent positive momentum, Fitch said.
"In moments like this, against the unprecedented threat posed by North Korea, only a united global community can help build effective solutions". China, Pyongyang's main economic ally, supplies most of North Korea's crude oil. "We are urging the North to end the vicious circle of repeating provocations and sanctions and start a dialogue for the peaceful resolution of its nuclear issue", he added.