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European Union Puts More Sanctions on North Korea

Back in January, the rogue state of North Korea has had its latest nuclear test. In February, its irresponsible leaders launched a ballistic missile. No wonder, this country faces more sanctions.

According to the latest Reuters news, the European Union has just expanded sanctions on North Korea. Now, there are many more restrictions on trade and travel. The 28 member nations now can’t have their companies invest in industries such as mining, refining, and chemicals.

“Considering that the actions of North Korea constitute a grave threat to international peace and security in the region and beyond, the EU decided to further expand its restrictive measures,” the European Council explained.

Some other restriction include arms and metals for ballistic missile systems as well as ban on selling gold, diamonds and luxury goods. Also, the EU companies aren’t allowed to enter into joint ventures with North Korean companies.

At present, the trade with North Korea accounts for only 40 million a year, but it’s down from around $350 million in the last decade. There are, however, some European countries, such as Germany and Sweden, that don’t want total isolation of North Korea. And they may be right.

While the sanctions may make lives a little more inconvenient for the North Korean regime, the common people suffer the most- as it usually happens with sanctions. Presently, some humanitarian aid reaches North Korea, but it is not clear whether it does much good after the corrupt and cruel regime puts its hands on it.