US proposes UN ban on oil to North Korea and asset freeze

A U.S.-drafted resolution seeks to have the U.N. ban all oil and natural gas exports to North Korea and order a freeze on all foreign financial assets of the country and its leader Kim Jong Un.

The draft circulated to council members Wednesday was obtained by The Associated Press. It would also prohibit North Korea from exporting textiles and ban all countries from hiring and paying workers from the northeast Asian nation — two key sources of foreign currency.

It would also prohibit North Korea from being part of any joint ventures or cooperative agreements.

The draft condemns the country's latest nuclear test and calls for a resumption of six-party talks to denuclearize the Korean peninsula.

The resolution is likely to face opposition from China and Russia, the North's allies.