UN sanctions for N. Korea over rocket

Featured Various Asia News - May 3rd, 2012
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The UN has imposed sanctions on North Korean companies over Pyongyang’s failed rocket launch. Three blacklisted  firms were named on Wednesday: Green Pine Conglomerate, Amroggang Development Banking Corporation and Korea Heungjin Trading Company. The US and EU wanted to blacklist a total of 40 state-owned companies, but the number fell short because China blocked the move. US envoy to the UN Susan Rice says that banning these firms from global trade will isolate North Korea and contain Pyongyang’s illicit moves as tensions remains high on the Korean peninsula. The ban also includes the transfer of other items and technology to or from North Korea. The failed rocket launch was described by critics as a disguised missile technology test. The rocket crashed into the sea shortly after take off.

Source: BBC