Image Credit : Aljazeera
China announced today that it will limit oil exports to North Korea under UN sanctions over its nuclear and missile development, further reducing support from Pyongyang’s last major trading partner, energy supplier and diplomatic ally.
Exports of refined petroleum to the North will be limited to 2 million barrels per year and sales of liquefied natural gas banned outright, effective January 1, the Commerce Ministry said. The current size of Chinese energy supplies to the North and how much that would be reduced were unclear.
China also will ban textile imports from the North, the ministry said. Textiles are one of the North’s last major sources of foreign revenue following repeated rounds of UN sanctions under which Beijing cut off purchases of coal, iron ore, seafood and other goods. Read More…