US and China Strike Tentative Deal on North Korea Sanctions

March 5, 2013 Share Print 0

The United States and China have struck a tentative deal on a draft U.N. Security Council sanctions resolution that would punish North Korea for its third nuclear test, which it conducted last month, U.N. diplomats said on Monday.

Separately, the U.N. press office announced that Russia, which holds the presidency of the 15-nation Security Council this month, will convene closed-door consultations on North Korea at 11 a.m. EST (1600 GMT) in New York on Tuesday.

Speaking on condition of anonymity, the U.N. diplomats said they hoped to receive the draft resolution at Tuesday’s council session. They added that they would like to see the council vote on the resolution by the end of this week.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.