Sanctions needed, talks essential

The United Nations' response to latest provocations by the Democratic People's Republic of Korea - its intercontinental ballistic missile launches on July 3 and 27 - has been prompt, with the UN Security Council unanimously approving tough, new sanctions on Pyongyang.

UN resolution 2371, with the expected condemnation "in the strongest terms", bans coal and other exports from the DPRK totaling upwards of $1 billion, as well as new joint ventures with the DPRK and additional foreign investment in existing ones.

The sanctions will bite deep. A$1 billion cut in DPRK export revenues means Pyongyang will possibly lose one-third of what it earned last year.