U.N. Security Council imposes oil export cap on N. Korea

The U.N. Security Council voted Monday on a new sanctions resolution to impose the first restrictions on exports of crude oil and petroleum products to North Korea over its sixth and largest nuclear test.The watered-down resolution, unanimously approved by the 15-member council, drops a proposed oil embargo and instead places an annual cap on crude oil exports to the North at the level seen in the previous 12 months, while capping the annual supply or export of refined petroleum products at 2 million barrels.The restrictions on North Korea's access to oil is a major pillar of the new sancti…READ FULL ARTICLE