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

North Korean leader Kim Jong Un

The importing of North Korean textiles has been banned altogether by Beijing in compliance with the UN Security Council (UNSC) resolution, and new shipments are now forbidden.

China will soon begin restricting oil exports to North Korea, the country's Commerce Ministry announced Saturday, marking a major step by Pyongyang's top ally and trading partner to further isolate the country from the global economy.

The Commerce Ministry said the exports of refined petroleum to Pyongyang will be limited to 2 million barrels per year and sales of liquefied natural gas banned outright, effective January 1, 2018.

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

Refined oil exports to North Korea from all United Nations members is capped at 500,000 barrels from October 1 to the end of the year and two million barrels annually from January 1, 2018.

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.

China said on Saturday it will ban exports of some petroleum products to North Korea, as well as imports of textiles from the isolated North, to comply with a United Nations Security Council resolution.

China will suspend such exports once the total exports approaches the ceiling, state-run Xinhua news agency reported.

Japan's Kyodo News said Friday that China's four major banks have frozen all bank accounts of North Korean firms and individuals in Liaoning Province, the region where 70 percent of North Korea-China trade pass through.

"Donald Trump mocked Kim as a "Rocket Man" on a" suicide mission" at the UN General Assembly. Yet in early September, after North Korea conducted its sixth and biggest nuclear test, it called the prospect of a full oil embargo "rash and extreme".

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

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.

Related news:

Hot News

isis-killer-beheading-video-story-top Maine's Collins puts another nail in coffin of Obamacare repeal
Sep 25, 2017 - 00:11
The embattled Republican effort to repeal the nation's health-care law now centers on winning over a hard-line conservative, Sen. The measure would end the Affordable Care Act's requirements that individuals have insurance and that most employers provide it.

isis-killer-beheading-video-story-top Trump touts his Twitter use at Alabama rally
Sep 24, 2017 - 00:15
And for some Alabama Republicans, the support of a president they adore wasn't enough to dissuade them from supporting Moore. At the Huntsville rally, Trump tried to shift this perception, insisting that unusual would not do McConnell's bidding.

Iran unveils a ballistic missile with range of 2000km
Sep 24, 2017 - 00:12
The officials have not provided any details on the capabilities of the advanced missile, Tasnim news agency reported. President Rouhani said: "We will promote our defensive and military power as much as we deem necessary".

isis-killer-beheading-video-story-top Parsons Green terror attack: 18-year-old Ahmed Hassan charged
Sep 23, 2017 - 00:36
The Syrian refugee's employer says the man's mother suffered a heart attack after hearing of her son's arrest. The 21-year-old man who was released is believed to be Yahyah Farroukh from Syria.

isis-killer-beheading-video-story-top Apple TV 4K won't let you download 4K movies
Sep 23, 2017 - 00:30
The remote of the Apple TV also was met with positive feedback due to its simplicity and its versatility in implementing Siri. However, The Verge still considers the device "expensive to gamble" on until Apple can unleash its "untapped potential".

isis-killer-beheading-video-story-top Apple releases iOS 11 to iPhones and iPads
Sep 22, 2017 - 00:16
Now, Apple has raised the limit of the size of apps that can be downloaded over the cellular connections. If you don't have a PC or Mac, you can take the phone to an Apple store or authorised service provider.

isis-killer-beheading-video-story-top Indian market closes negative on Wednesday
Sep 22, 2017 - 00:14
The Sensex touched a high of 32,524.11 points and a low of 32,358.63 points during intra-day trade. The reproduction of the story/photograph in any form will be liable for legal action.

Boris Johnson faces awkward 7-hour flight with PM after Brexit row
Sep 21, 2017 - 00:17
He told the Financial Times : "From my personal point of view, I think he should have kept his mouth shut, quite simply". She told reporters on Monday that Mr Johnson's article wasn't authorised and that she was in control.

isis-killer-beheading-video-story-top Burnley sponsor apologises after tweet taunting striker Chris Wood
Sep 21, 2017 - 00:17
After the game, the official Ladbroke's Twitter account tweeted an obscene message directed at the former Leeds players. Ladbroke's are Burnley's official United Kingdom betting partner, but took to Twitter to taunt their players.

isis-killer-beheading-video-story-top Taco Bell Plans New Locations That Will Serve Alcohol
Sep 21, 2017 - 00:12
Another interesting point: According to Food & Wine, the chain's drive-thrus make up around 55 to 70 percent of its revenue. The one downside for the new taco stands is that they won't have drive-thru windows.

isis-killer-beheading-video-story-top Toys R Us files for bankruptcy, annouces plan for stores
Sep 20, 2017 - 00:31
Various lenders including JPMorgan have already committed as much as $3bn already to financing the attempted company turn around. More than a dozen retail bankruptcies have been reported this year, but none of the retailers are in the Toys "R" Us league.

isis-killer-beheading-video-story-top Canadians impacted by Equifax data breach
Sep 20, 2017 - 00:28
While Equifax will let you place or lift a freeze for free until November 21, the FTC says that TransUnion and Experian are not. Attorney General Schneiderman opened an investigation immediately after learning of the Equifax breach. "It's a scam.

isis-killer-beheading-video-story-top Kyrie Irving drilled about LeBron James in new interview
Sep 19, 2017 - 00:40
And it wasn't about me not wanting to win. "And that was the only intent that I have in all this". He said at his introductory press conference with the Celtics that he had not spoken to James.

isis-killer-beheading-video-story-top May hopes to boost Bombardier on trade mission to Canada
Sep 19, 2017 - 00:38
The case was inspired by the 2016 purchase by Delta Air Lines to buy up to 125 C Series airliners from Bombardier. Trudeau's office did not immediately respond to a question about his use of the word "suing".

isis-killer-beheading-video-story-top Dhaka protests Myanmar airspace violation amid Rohingya crisis
Sep 18, 2017 - 00:23
Vaezi noted that Myanmar army troops kill Muslim men, take women and children into custody and set fire to their homes. Suu Kyi has also been widely condemned by the global community for not speaking out against the ongoing violence.