Sanctions to target oil, textile industries

The U.N. Security Council is scheduled to vote late Monday on a new watered-down sanctions resolution against North Korea that eliminates initial U.S. demands to ban all oil imports to the country and freeze international assets of the government and its leader Kim Jong Un.

The draft agreed to late Sunday after final negotiations between the U.S. and China, the North’s ally and main trading partner, also eliminates a U.S. proposal to authorize the use force to board nine named ships, which it said violated previous U.N. sanctions resolutions, to carry out inspections.

The draft, obtained Monday by The Associated Press, would ban North Korea from importing natural gas liquids and cap its import of refined petroleum products and crude oil. It would also ban all textile exports, a key source of hard currency.