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China to limit oil exports to North Korea

China to limit oil exports to North Korea”

North Korea relies heavily on textiles, it's one last major source of foreign revenue.

Joseph Cheng of the Chinese University of Hong Kong told Al Jazeera that "China wants to demonstrate its support of the world community's position dissuade North Korea from continuing to hold nuclear tests and long-range missile tests".

The Ministry of Commerce will implement UN Security Council Resolution 2375 by halting the export of liquified natural gas and gas condensate and limit exports of refined oil.

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.

The bloc has agreed a new package of measures, including a ban on investments in North Korea and on European Union exports of oil, the sources said on condition of anonymity.

China is imposing new limits on trade with North Korea after the isolated country's latest nuclear test.

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

The new United Nations resolution requires exports of petroleum products to the North be limited to 500,000 barrels or 60,000 tons, from October 1 to December 31 and 2 million barrels or 240,000 tons per year starting January 1.

The ban on textiles - Pyongyang's second-biggest export - is expected to cost the country more than $700m (£530m) a year.

President Trump has accused China of not putting enough pressure on Kim's regime to step back from its sabre-rattling. Since time immemorial, Chinese leaders have always been considered North Korea's diplomatic protectors but now express increasing frustration with the government of Kim Jong Un. Trump ordered new sanctions on Thursday that opened the door wider to blacklisting people and entities doing business with North Korea.

He also mocked Kim Jong-un with a disparaging nickname, saying: "Rocket man is on a suicide mission".

Media captionWas your T-shirt made in North Korea? Reuters reported that North Korean ships have headed home from Russian Federation carrying fuel, despite the ships declaring they were headed somewhere else.

The North Korean leader earlier labelled Mr Trump "mentally deranged" and a "dotard" while Mr Trump labelled Mr Kim a "madman" in response. So we're doing more of the same.



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