The United Nations Security Council on Wednesday slapped new sanctions on North Korea that will cut the country’s coal exports by around 60%. The 15-member council adopted a resolution that restricts the Asian country from exporting more than 7.5 million tonnes of coal or $400.9 million (Rs 2,667 crore) – whichever is lower – in 2017.

The resolution, drafted by the United States, also bans the export of North Korean copper, nickel, silver and zinc, and the sale of statues and helicopters. The export of these metals fetches an estimated $100 million (Rs 665 crore) a year for North Korea, reported the AFP. Under the new sanctions, China will slash its imports by some $700 million compared with last year, diplomats told Reuters. It is reportedly the only country that purchases North Korean coal.

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The action has been taken as a penalty for Pyongyang’s fifth and largest nuclear test on September 9. “No resolution in New York will likely, tomorrow, persuade Pyongyang to cease its relentless pursuit of nuclear weapons. But this resolution imposes unprecedented costs on the Democratic People’s Republic of Korea regime for defying this council’s demands,” said US Ambassador to UN Samantha Power.

North Korea has been under UN sanctions since 2006 over its nuclear and ballistic missile tests. UN Secretary-General Ban Ki-moon asked all countries to enforce the resolution. “It sends an unequivocal message that the DPRK must cease further provocative actions and comply fully with its international obligations,” said the secretary-general.

South Korea welcomed the new resolution. A foreign ministry official told Reuters that the country will pursue unilateral sanctions against North Korea with US and Japan. Chinese Ambassador Liu Jieyi also said that they were against North Korea’s nuclear tests. But he alleged that US and South Korea were fast increasing their military exercises and presence and thus intensifying confrontation with North Korea.