China Impose Bans on Imports from North Korea

__________
TeleSUR
China Impose Bans on Imports from North Korea

“On August 15, a full ban on imports of coal, iron, iron ore, lead, lead ore, seafood from North Korea is introduced,” the ministry said in a statement.

On Monday, the Chinese Commerce Ministry announced that it would impose a partial goods ban on North Korea. Additionally, import applications of products from The North will be halted from September 5.

“On August 15, a full ban on imports of coal, iron, iron ore, lead, lead ore, seafood from North Korea is introduced,” the ministry said in a statement.

However, products which arrive at Chinese ports prior to the ban will be allowed to enter the country.

Chinese companies will be able to use North Korea’s Rason port to import coal from other countries, pending approval from a committee established under the UN Security Council resolution 1718.

These restrictions will likely affect their economy, over time, because China is the largest trading partner of North Korea.

In April, the Chinese General Administration of Customs said trade increased between the two countries in the first quarter by 37.4 percent, despite sanctions on North Korean coal, which is its top earner.

U.S. President Donald Trump repeatedly urged China to increase economic pressure on North Korea or face sanctions of their own.

Restrictions imposed by the United Nations Security Council have caused mounting tension, especially since the economic squeeze from the United States in response to North Korea’s July’s ballistic missiles launches.

The new Security Council sanctions are expected to cut their annual export revenue by $1 billion.

Share...Share on FacebookShare on Google+Tweet about this on TwitterEmail this to someoneShare on LinkedInShare on RedditShare on Tumblr

Related Posts:



All content herein is owned by author exclusively. Expressed opinions are not necessarily the views of VT, VT authors, affiliates, advertisers, sponsors, partners, technicians or Veterans Today Network and its assigns. In addition, all images within this post are the full responsibility of the author and NOT Veterans Today Network.
Legal Notice - Comment Policy

Posted by on August 14, 2017, With 553 Reads Filed under Investigations. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Comments Closed

2 Responses to "China Impose Bans on Imports from North Korea"

  1. mb.  August 14, 2017 at 9:24 pm

    Great acting.

    Aren’t there more countries that do missile tests ? Let’s start banning then.

    And will the N.Korean elite be hit by all this ?

  2. Peter Johnson  August 14, 2017 at 7:45 pm

    $1billion isn’t much. China can pass this along quietly — Trump is appeased and North Korea continues to operate, albeit with a bit more Chinese control.

You must be logged in to post a comment Login


TOP 50 READ ARTICLES THIS MONTH
From Veterans Today Network