Beijing limits oil exports to North Korea
Following last week’s UN sanctions, China will restrict oil exports on 1st October and suspend textile imports on 30 September. Meanwhile, petrol prices have gone by 20 per cent. Workers’ Party and military stage rallies in support of Kim Jong-un's statement against the US and Trump.
Beijing (AsiaNews/Agencies) – China will restrict oil exports to North Korea, and suspend textile imports, following the unanimous decision of the UN Security Council to increase sanctions last week. Although it is North Korea’s main trading partner, China, along with Russia, voted in favour of tougher sanctions.
Xinhua reports that China’s Commerce Ministry will halt the export of liquified natural gas and gas condensate to North Korea on 30 September and limit exports of refined oil on 1st October. The ban on textile imports will be effective from 30 September.
Refined oil exports to the North Korea from all UN members will be capped at 500,000 barrels between 1st October to the end of the year, and to 2 million barrels annually from 1st January 2018. China will suspend such exports once the total exports approaches the ceiling.
According to UN customs data, Beijing sent 6,000 barrels a day of oil products to North Korea in 2016. But according to the US, China provides North Korea with around 4 million barrels a year of crude oil, and 4.5 million barrels of refined oil products such as petrol and diesel. As a result of the sanctions, retail prices in North Korea have gone up around 20 per cent in two months
The new round of sanctions is a response to Pyongyang’s latest nuclear test on 3 September. Since then a war of words has broken out between US President Donald Trump and North Korea’s leader Kim Jong-un. The US leader has threatened to “totally destroy” North Korea and dubbed its leader “rocket man”, whilst the latter has threatened to hit Guam and the United States, calling Trump “mentally deranged”.
Today, North Korea’s Korean Central News Agency reported that two rallies were held in support of Kim’s statement against the United States, one by the military and the other by the ruling Workers’ Party.
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24/06/2020 09:38
20/06/2020 11:03
