China Issues New Sanctions On NK To Limit Imports On Oil, Textiles

Monday, 25 Sep, 2017

China is limiting its oil exports to North Korea to comply with new sanctions imposed by the UN Security Council last week, which include fuel import restrictions.

The ban on textile imports will be effective from today, it said.

Officials said, textiles are one of the last major sources of revenue following sanctions on other resources by the UN Security Council.

China accounts for around 90 per cent of North Korea's trade, so Beijing's cooperation is critical to any efforts to derail Pyongyang's development of nuclear weapons and long-range missiles.

In an online statement by the country's Ministry Of Commerce Saturday, it said China would limit oil exports of refined petroleum and ban natural gas immediately.

China issues new oil sanctions on North Korea.

China, in accordance with United Nations sanctions, put limits on North Korean coal, iron ore and seafood exports this year.

He added: "Of course, it's going to take months for the impact of these sanctions to be felt, but certainly banning imports of North Korea textiles will hurt the regime because textiles provides what the regime really needs most right now, which is hard currency".

GM Employees in Canada Go On Strike Over Production Shifts to Mexico
Other GM plants in Canada are not affected by this strike, as they received new four-year contracts last year. Equinox production in North America is expected to rise 50.5% this year, according to a WardsAuto forecast.


Alphabet tipped in talks with Lyft over possible $1b investment
It is now the second largest ride-hailing service in the U.S.by ride volume after Uber . Alphabet isn't the only one showing interest.


Iran unveils new long-range ballistic missile
In a speech before congress in 2015, he described it as a "very bad deal" that "could well threaten the survival of my country". Tehran has argued that the missile is exclusively for defensive purposes and is not a menace for any country in the region.


President Donald Trump has put China at the forefront of US efforts to rein in North Korea's nuclear program.

China also made a decision to limit exports of refined petroleum products to North Korea from October 1 in line with the export ceiling imposed under the UN Security Council Resolution No. 2375.

North Korea has launched dozens of missiles under Kim Jong Un's leadership as it accelerates a weapons program created to give it the ability to target the United States with a powerful, nuclear-tipped missile.

Last month, the U.S. announced sanctions against five Chinese firms and one individual, two Singapore-based companies and three Russian citizens alleging that they supported North Korea's nuclear weapons programme. Since time immemorial, Chinese leaders have always been considered North Korea's diplomatic protectors but now express increasing frustration with the government of Kim Jong Un.

"Donald Trump mocked Kim as a "Rocket Man" on a" suicide mission" at the UN General Assembly.

North Korea's leader Kim Jong Un.

North Korea's foreign minister, Ri Yong Ho, said Thursday that the country could soon test a hydrogen bomb over the Pacific Ocean.