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U.N. Security Council poised to vote on tough new sanctions on N. Korea

UN Security Council

The U.N. Security Council is meeting Friday to vote on whether to impose new sanctions on North Korea, including sharply cutting limits on its imports of refined oil, forcing all North Koreans working overseas to return home within 12 months and cracking down on the country's shipping, according to CBS news.

The draft resolution circulated to all 15 council members Thursday wouldn't go as far as the toughest-ever sanctions that have been sought by the Trump administration, such as prohibiting all oil imports and freezing international assets of North Korea's government and its leader, Kim Jong Un.

The resolution would cap North Korea's crude oil imports at 4 million barrels a year and limit its imports of refined oil products, including diesel and kerosene, to 500,000 barrels a year. That would be a nearly 90 percent cut in imported fuels that are key to North Korea's economy.

The draft, obtained by CBS News and The Associated Press, would prohibit the export of food products, machinery, electrical equipment, earth and stones, wood and vessels from North Korea. And it would ban all countries from exporting industrial equipment, machinery, transportation vehicles and industrial metals to the country.

The proposed sanctions are the Security Council's response to Pyongyang's test on Nov. 29 of its most powerful intercontinental ballistic missile yet, which the government said is capable of hitting anywhere on the U.S. mainland. It was North Korea's 20th launch of a ballistic missile this year and added to fears that the North will soon have a nuclear arsenal that could viably target the U.S. mainland.

The United States drafted the resolution and reportedly negotiated it with China before circulating the final text to the rest of the council.