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UN imposes sanctions on 3 North Korean firms over rocket launch | The United Nations Security Council
has imposed sanctions on three significant North Korean state-owned companies
over the country's failed rocket launch last month. The council's sanctions committee
named the three blacklisted companies as Green Pine Conglomerate, Amroggang Development
Banking Corporation and Korea Heungjin Trading Company. The UN has decided to
freeze the assets of the firms and ban them from global trade, the BBC reports.
In addition, the sanctions committee approved extra items and technology that
would be prohibited for transfer to or from North Korea , updating its lists dealing
with Pyongyang 's missiles and nuclear related material. According to the report,
US envoy to the UN Susan Rice hailed the decision, saying it 'constitutes a serious
and credible response to North Korea 's provocation'. "These measures will increase
North Korea 's isolation and make it harder for Pyongyang to move forward with
its illicit programmes," Rice said.
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