Draft agreement by US and China on UN Resolution on North Korea

The U.S. and China reached an agreement over a new United Nations Security Council resolution that would punish North Korea for its recent rocket launch and nuclear test, according to diplomats from two Security Council member countries.

Chinese Foreign Minister Wang Yi and U.S. Secretary of State John Kerry met in Washington and said they were making “significant” progress on new sanctions, without giving details.

China’s participation is essential as it is North Korea’s biggest trading partner, providing most of the isolated country’s energy and food. Any draft resolution would have to be voted on in the Security Council, where the U.S., Russia, China, France and the U.K. wield veto power.

That vote could be taken this week, according to one of the diplomats, who asked not to be identified because he isn’t authorized to discuss the issue publicly.

Reuters cited unnamed diplomats as saying the U.S. is seeking Chinese support to curb North Korea’s access to international ports, and to tighten restrictions on North Korean bank routes to the international financial system.

[Bloomberg]

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