South Korea’s Bold Stand: Defying Disbandment of UN Sanctions Panel on North Korea

More articles

Mayur Joshi
Mayur Joshihttp://www.mayurjoshi.com
Mayur Joshi is a prominent forensic accounting evangelist based in Pune, India. As a contributing editor to Regtechtimes, he is recognized for his insightful reporting and analysis on financial crimes, particularly in the realms of espionage and sanctions. Mayur's expertise extends globally, with a notable focus on the sanctions imposed by OFAC, as well as those from the US, UK, and Australia. He has authored seven books on financial crimes and compliance, solidifying his reputation as a thought leader in the industry. One of his significant contributions is designing India's first certification program in Anti-Money Laundering, highlighting his commitment to enhancing AML practices. His book on global sanctions further underscores his deep knowledge and influence in the field of regtech.

South Korea has pledged to uphold UN sanctions on North Korea, even as the UN monitoring panel comes to an end following Russia’s veto on extending its mandate, the South Korean foreign ministry announced Tuesday.

The UN Panel of Experts, tasked with monitoring sanctions against North Korea’s illicit weapons programs, will cease its operations on Tuesday (New York time) after Moscow blocked a UN Security Council (UNSC) resolution aimed at renewing its mandate for another year, according to the Yonhap news agency.

China Abstains from Voting against Veto

China, one of the five permanent UNSC members with veto power, abstained from voting. This helped in Russia’s move to support North Korea.

In response, South Korea imposed unilateral sanctions against Russia, targeting two Russian vessels allegedly carrying military cargo to North Korea. Additionally, sanctions were imposed on Russian individuals and legal entities linked to Pyongyang’s nuclear and missile programs.

Post the sanctions Russia and South Korea relationship was under pressure and Russia summoned South Korean Ambassadors. Experts believe that South Korea-Russia relations are deteriorating.

Russia Summons South Korean Ambassador Over Sanctions Tied to North Korean Support Allegations

The military ties between Moscow and Pyongyang have deepened, especially following North Korean leader Kim Jong-un’s visit to Russia last year. Russia’s strategic interests in Asia, including countering a U.S.-led world order, contribute to its alignment with North Korea.

North Korean Missile Debris were seen on Ukraine attack by Russia.

Lim Soo-suk, the spokesperson for the South Korean foreign ministry, stated during a briefing, “Although the UNSC monitoring panel is ending, the sanctions committee on North Korea remains active.”

Lim added, “The government will intensify efforts to ensure the implementation of UNSC sanctions resolutions on North Korea, with close coordination with the international community.”

Alternatives to Monitor North Korea

Various alternatives to replace the monitoring panel have been under discussion, according to Lim. Seoul plans to collaborate with like-minded countries to establish a more effective mechanism.

During a recent visit to South Korea, Linda Thomas-Greenfield, the top US envoy to the United Nations, expressed that the United States is committed to working with South Korea to explore “creative” and “out-of-the-box” solutions to find an alternative to the experts’ panel, even outside of the UN system.

The U.S., South Korea and Japan are pushing for a new multi-national panel of experts, possibly outside the U.N., to ensure sanctions enforcement against North Korea after Russia and China thwarted monitoring activities at the world body.

- Advertisement -spot_imgspot_img

Latest

error: Content is protected !!