DPRK on the economic reform path

The Democratic People's Republic of Korea has once again grabbed the headlines, this time for two different reasons. The first is the detention (and release on Dec 7) of Merrill E. Newman, an 85-year old American who took part in the Korean War, during his visit to the DPRK. The second is the signing of a decree by Russian President Vladimir Putin on Dec 2 imposing sanctions on the DPRK in compliance with UN Security Council Resolution 2094 of March 7, 2013.

The decree signed by Putin bars Russian citizens and organizations from doing business to help or in any way provide financial aid for Pyongyang's nuclear and missile programs. According to the decree, all DPRK ships now have to undergo inspection before entering a Russian port and Russian authorities will "increase vigilance" on DPRK diplomats.

By imposing sanctions, Moscow is expected to help prevent Pyongyang from acquiring nuclear and missile technology, and force it to abandon its nuclear weapons and long-range ballistic missile development programs. The move is aimed at preventing a nuclear crisis, which could harm Russia's interests.