Published: Mon, September 25, 2017
Worldwide | By Sean Reid

China will restrict oil exports to North Korea

China will restrict oil exports to North Korea

Textiles are one of North Korea's last major sources of foreign revenue following repeated rounds of United Nations sanctions under which Beijing cut off purchases of coal, iron ore, seafood and other goods.

China also will ban textile imports from the North, the ministry said.

Kyodo assessed the measure as being even stricter than the latest UN Security Council sanctions adopted after Pyongyang's sixth nuclear test, adding it can be considered as an independent, unilateral sanction by China.

China is to limit the export of refined oil products and totally ban exports of liquefied natural gas and gas condensate to North Korea, as well as textile imports from that country, the Ministry of Commerce has announced. They include a total and immediate ban on natural gas and textile exports and limiting annual petroleum exports to 2 million barrels beginning January 1.

China also chose 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.

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China accounts for about 90 percent of North Korea's trade, making its cooperation critical to any efforts to derail Pyongyang's development of nuclear weapons and long-range missiles. They also argue against doing anything that might hurt ordinary North Koreans.

His comments came a day after he signed an executive order allowing Washington to ramp up sanctions against North Korea over its nuclear missile programme.

As China is North Korea most important trading partner, the suspension of textile imports is expected to affect Pyongyang's income. Kim had previously described the usa president as a "mentally deranged dotard" in response to Trump's earlier, fiery speech at the UN.

Yesterday, US President Donald Trump praised China for instructing its banks to cut off business with North Korea.

In July, Beijing and Moscow proposed a "double-freeze" plan, which would see North Korea suspend its missile launches and nuclear tests in exchange for a halt in joint US-South Korea military drills. On Friday, Trump said that North Korean leader "is obviously a madman who doesn't mind starving or killing his people" and promised to "test" him.

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