Published: Mon, September 25, 2017
Global Media | By Abel Hampton

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

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

China has announced it will limit oil supplies to North Korea under United Nations sanctions, stepping up pressure on Pyongyang over its pursuit of nuclear and missile technology.

But Cheng also said that Beijing understands that economic sanctions alone "will not be able to persuade Pyongyang to give up their programmes".

Imports of textiles from North Korea would also be banned immediately, the statement said.

China now accounts for roughly 90% of North Korea's trade, making it a critical trading partner.

The Chinese Commerce Ministry said it would ban exports of condensate and liquefied natural gas to North Korea and limit textile imports from the North, starting 12 a.m. Saturday.

In August, China's imports from North Korea were $288.3 million, up 84.4 per cent from July and down 1 per cent from a year ago, based on data on the customs website.

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".

China will suspend such exports once the total exports approaches the ceiling.

"If China completely cuts off the supply of oil to North Korea or even closes the China-North Korea border, it is uncertain whether we can deter Pyongyang from conducting further nuclear tests and missile launches", it said.

Trump and North Korean leader Kim Jong Un exchanged personal insults this week, and neither side shows any sign of backing down.

China's ambassador to the United States has called on Washington to stop making continuous threats over North Korea and "do more" to build bridges of understanding and negotiation instead. Trump, speaking during the U.N. General Assembly, called Kim "Rocket Man", and Kim threatened in a video to "tame the mentally deranged USA dotard with fire".

Tensions have been mounting on the Korean Peninsula as Pyongyang continues its missile and nuclear tests and the U.S. and its regional allies - South Korea and Japan - are holding drills in the area. 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.

Like this: