China, U.S. Propose New Sanctions Against North Korea
China and the U.S. are introducing news sanctions against North Korea at the U.N. on March 5.
This new resolution tightens existing sanctions against ballistic missile and nuclear tests and also contains sanctions on "the import and export of nuclear and ballistic-missile related material."
Embargoes on luxury items, arms imports and exports, and financial and travel sanctions are also included. The newest aspect of these measures is believed to broaden financial and travel sanctions.
Although an oil embargo would be the most difficult punishment for North Korea to skirt, China won't support it for fear that North Korea would collapse, negatively impacting China's economy.