Will the Fed Chair changes his views during the speech today?
Tighter North Korea fuel restrictions won’t affect regime
The United Nation’s fresh sanctions on North Korea will probably hurt ordinary North Koreans in the isolated country rather than suppress Kim Jong-Un’s ability to develop missiles with nuclear warheads capable of reaching America.
On Friday, the UN Security Council approved new measures targeting North Korea’s economy in response to the previous month’s launch of a new intercontinental ballistic missile. Evidently, the fresh restrictions are believed to reduce imports of refined petroleum products, including kerosene and diesel by nearly 90% from January, and also limit shipping as well as impose a 24-month deadline for expatriate North Korean employees to be sent home.
The most probable impact on the deeper reductions in petroleum products will be on sectors, which are absolutely non-significant to the overall survival of the regime. In other words, the incidence of these cuts will heavily impact ordinary North Koreans, while the regime will survey.
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Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.