U.N. set to crack down on North Korea financing, illicit cargo

UNITED NATIONS (Reuters) - In response to North Korea's third nuclear test, the U.N. Security Council is set to tighten financial restrictions on North Korea and crack down on Pyongyang's attempts to ship and receive banned cargo in violation of existing sanctions.

The measures are included in a draft sanctions resolution which the United States delivered to the council on Tuesday. The nine-page text was the product of three weeks of negotiations between the United States and China in response to North Korean's third nuclear test on February 12.