That could be a significant restriction.
The U.S. House of Representatives will hold a hearing on Tuesday on North Korea. China supplies most of North Korea's crude.
"The textile sanctions actually might have more impact, as they are probably a good source of value-added income - value added by people you don't have to pay much - for the regime", he said. But the USA official, who was not authorized to speak publicly, said North Korea now receives about 4.5 million barrels of refined petroleum products, which would mean a more than 50 per cent cut. These "will not only contribute to the prosperity of the two states but also to changes in North Korea, which will became a basis for trilateral relations", he said. Ordinary citizens in the country quietly asked how the country could afford nuclear weapons while so many of them remained on food rations, the Telegraph reported. In the absence of Beijing's support, North Korea can always count on Moscow.
Rajiv Biswas, Asia Pacific chief economist for IHS Markit, also said he expects that Pyongyang can weather the import reduction.
Biswas noted, however, that the situation with China remains both crucial and complicated.
The watered-down resolution does not include sanctions that the USA wanted on North Korea's national airline and the army.
A North Korean man tries to sell his wares to Chinese tourists
A few years back, President Putin wrote off most of North Korea's Soviet-era debt in a major goodwill gesture.
It will also ban the export of all textiles, the official said, noting that in 2016, the North Korean regime earned $760 million through those sales - making it the largest economic sector that UN Security Council had not yet touched.
In a statement published by the official KCNA news agency, North Korea's foreign ministry warned Washington that if it did "rig up the illegal and unlawful "resolution" on harsher sanctions, the DPRK shall make absolutely sure that the U.S. pays due price".
Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in spoke in Vladivostok on Thursday and agreed to try to persuade China and Russian Federation to cut off oil to North Korea as much as possible, according to South Korean officials.
Making them small enough to fit on a missile is a challenging task, and one that North Korea claims to have achieved.