EU Weighs New North Korea Sanctions After Missile Test

Jang Chang-ha president of the Academy of National Defense Science seen sitting next to leader Kim Jong-un

South Korea's new government proposed rare talks with the North on easing border tensions and holding family reunions, offering an olive branch despite rising tensions over the communist state's nuclear weapons program.

The South's defence ministry proposed a meeting to be held on Friday at the border truce village of Panmunjom, while the Red Cross offered to hold talks on Aug 1, at the same venue. That means the US needs to keep squeezing financial institutions in China and elsewhere "that are enabling North Korea to operate in the global financial world without which they would be in very desperate condition".

"North Korea must respond to our proposals honest if it is truly peace on the Korean peninsula", told reporters Cho Myoung-Gyon, south Korean minister of Unification.

"What is important is to stop the flow of currency to North Korea" said Maruyama.

The South's military has deployed dozens of giant loudspeakers along the tense border to blare out a mix of world news, K-pop songs and other propaganda targeting young North Korean soldiers.

The meeting, proposed by the ministry would be the first meeting Korean official since December 2015.

David Petraeus, the retired general and former Central Intelligence Agency director, said the USA needs to continue tightening sanctions on North Korea to get the country's "attention" and persuade it to accept a diplomatic accord over its nuclear arsenal.

Seoul's proposal for two sets of talks indicates new President Moon Jae-in is pushing to improve ties with Pyongyang despite the North's first intercontinental ballistic missile this month.

Moon, who calls his predecessors' hard-line policies a total failure, has said he would employ both dialogue and pressure to resolve the North Korea standoff.

North Korea has conducted two nuclear tests since the beginning of a year ago and missile-related activities at an unprecedented pace.

According to Reuters, Chinese state-owned oil major CNPC has suspended diesel and gasoline sales to North Korea during the last month or two. South Korea offered Monday to talk with North Korea to.

The European Council, which groups the 28 EU member states, on Monday condemned the July 4 launch as an "outright violation" of UN Security Council resolutions.

North Korea imports nearly all of its oil and gas from China; most of that comes through CNPC. His statement suggested he will order more missile and nuclear tests until North Korea develops a functioning ICBM that can place the entire USA within its striking distance. During that period, two liberal South Korean presidents went to Pyongyang and held landmark summit talks with then-leader Kim Jong Il, the father of current North Korean ruler Kim Jong Un. In all, the North has conducted five nuclear tests and numerous missile tests.

Pyongyang has repeatedly said it refuses to engage in all talks with the South unless Seoul turns over 12 waitresses who defected to the South previous year after leaving a restaurant run by the North in China.

While the US enjoys a significant tactical advantage over North Korea, it's been projected that a conflict between the two nations could kill at least one million people, even without the use of nuclear weapons.

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