Russia and UAE Warn North Korea to Stop Provocations

August 29, 2017 Share Print 0

The foreign ministers of Russia and the United Arab Emirates urged North Korea on Tuesday to stop its provocations and obey United Nations resolutions, after Pyongyang’s launch of a ballistic missile over Japan.

Speaking in Abu Dhabi, the two ministers offered a forceful warning for Pyongyang, with Emirati Foreign Minister Abdullah bin Zayed Al Nahyan particularly calling for North Korea to stop its “provocations.”

But what was left unsaid between the two ministers was their own diplomatic and commercial ties to North Korea, with the UAE in particular home to thousands of its workers whose wages help Pyongyang avoid international sanctions.

Early Tuesday, North Korea fired a ballistic missile from its capital that flew over Japan before crashing into the northern Pacific Ocean.

The missile, which travelled some 2,700 kilometres (1,677 miles) on its trip over the northern Japanese island of Hokkaido, appeared to be the first to cross over Japan. It sparked new fears about a confrontation between Pyongyang and America’s Asian allies in the region, especially as U.S. President Donald Trump has taken a hard line against the country.

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.