North Korea UN envoy says new sanctions panel will fail

North Korea's ambassador to the United Nations said efforts to set up a new panel to monitor sanctions against his country would end in failure, state media reported on Sunday.

Kim Song's comments come after Russia's veto in March which effectively ended official U.N. monitoring of sanctions imposed on the isolated country for its pursuit of banned nuclear and weapons programmes.

Mid East tension hits stocks, hopes for containment stem losses

Equities retreated on April 15 after Iran ramped up Middle East tensions by launching a barrage of missiles and drones at Israel over the weekend, fuelling fears of a wider conflict in the volatile region.

However, analysts said there was hope among traders that the crisis could be contained.

That sliver of optimism helped drag oil prices lower.

Chaos is expected in Moscow due to Navalny's funeral VIDEO

However, problems started almost immediately. The spokeswoman for the most famous Russian opposition leader, who was found dead in a notorious prison on February 16, Kira Yarmysh, confirmed that they could not even find a hearse to take the body to the church. "Unknown people call morgues and threaten them," she said.