The United Nations General Assembly in New York has passed the world’s first global arms trade treaty, seeking to regulate the industry thought to be worth over $70 billion.
The treaty, passed earlier on Tuesday, regulates conventional weapons, ranging from small arms and light weapons to warships, missiles and combat aircraft. It prohibits sales of weapons in violation of arms embargoes or if those weapons were to be used for acts of terrorism, war crimes, and crimes against humanity or genocide.
The resolution was approved by a vote of 154 to 3 with 23 abstentions.
The United States, the world’s largest arms supplier, voted for the resolution. Other major arms producers such as Russia and China abstained, along with other mainly Latin American countries such as Cuba, Venezuela, Bolivia and Nicaragua.
The 3 countries who voted against the resolution were Iran, Syria and North Korea.