China bans supplies of petroleum products to N. Korea

North Korea Brushes Aside Donald Trump’s ‘Total Destruction’ Threat Compares it to ‘Dog’s Bark

North Korea Brushes Aside Donald Trump’s ‘Total Destruction’ Threat Compares it to ‘Dog’s Bark

While the USA pushed for a full ban on exports of oil to North Korea ahead of a vote on Resolution 2375, China and Russian Federation objected, supporting limits on exports instead of a full ban.

China's ambassador to the U.S. has called on Washington to stop making continuous threats over North Korea and "do more" to build bridges of understanding and negotiation instead.

China is limiting its oil exports to North Korea to comply with new sanctions imposed by the UN Security Council last week, which include fuel import restrictions.

China, the closest ally of North Korea, accounts for about 90 per cent of Pyongyang's foreign trade.

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.

A ban on Chinese textile imports will also be implemented in line with the latest UNSC sanctions, a major source of foreign currency for Pyongyang.

Prohibition of the imports of North Korean textiles should be carried out immediately from the date of announcement, and for the volume of transactions that have been concluded prior to the passage of the United Nations resolution, the import procedure must be completed by December 10, the ministry said.

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

The sources said lenders were asked to fully implement United Nations sanctions against North Korea and were warned of the economic losses and reputational risks if they did not do so.

The oil products exported to North Korea will be 2 million barrels per annum as of January 1, 2018, according to the ministry.

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

Tensions have been mounting on the Korean Peninsula as Pyongyang continues its missile and nuclear tests and the USA and its regional allies - South Korea and Japan - are holding drills in the area. Kim had called Trump a "mentally deranged USA dotard" a day earlier after Trump said Washington would "totally destroy" North Korea if it threatened the United States or its allies. Kim responded in a statement, calling Trump a "mentally deranged USA dotard" and said "a frightened dog barks louder".

Trump ordered new sanctions on Thursday that opened the door wider to blacklisting people and entities doing business with North Korea.

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