North Korea fuel prices surge after China cuts oil supplies

North Korea isn't Cuban Missile Crisis Redux
Letter: North Korea remains a legitimate threat
Author

18 July, 2017

China, North Korea's neighbor and closest ally, is responsible for 90 percent of trade with the country.

"After North Korea's frequent missile tests including its very first ICBM test, the global community has vowed to tighten sanctions and China simply can not exclude itself from the recent movement, although it probably does not want to indefinitely cut off fuel sales to the North", Kang said.

Iron ore imports from North Korea surged, with China arguing that the United Nations sanctions resolution allows for trade if the income is used for the livelihood of civilians.

The council also said it opposed a military solution to the North Korea problem and kept the door open to dialogue.

"We hope all relevant sides can make sure that they are clear that Security Council sanctions imposed on North Korea are not comprehensive economic sanctions". But U.S. Ambassador Nikki Haley told the council earlier this month that if it is united, the global community can cut off major sources of hard currency to North Korea, restrict oil to its military and weapons programs, increase air and maritime restrictions, and hold senior officials accountable.

North Korea isn't Cuban Missile Crisis Redux
How West and media are playing up 'Islamic threat' when danger is from North Korea and China

The Japanese government sees the threat from North Korea rising to a new level as the reclusive nation makes steady progress in its nuclear and missile development program, according to a draft of a white paper on defense for 2017. But Chinese leaders are reluctant to push Pyongyang too hard for fear Kim's government might collapse.

In the first six months of this year, trade between China and North Korea increased 10.5 percent to $2.5 billion, compared to the same period last year, according to official figures from Beijing. He complained that indicated Beijing was failing to do enough. The Data Base Centre for North Korean Human Rights has estimated that the North Koreans in Russian Federation provide their government with an estimated $120 million a year.

Huang said month-on-month figures showed an even sharper decline. It would leave larger Chinese banks untouched for now, the official said.

"Trade related to the people's livelihood in North Korea, especially if it embodies humanitarian principles, should not be affected by sanctions", said Huang at a separate news briefing.


More news


  • Red Devils Preparing £60 Million Bid For Eric Dier

    Red Devils Preparing £60 Million Bid For Eric Dier

    Jose Mourinho is said to be pestering Ed Woodward to tie up a deal for Tottenham's defensive midfielder Eric Dier . TheMirror says United are considering a final huge take it or leave it £60million offer for Dier.
    UAE denies arranging hack of Qatar news agency

    UAE denies arranging hack of Qatar news agency

    His visit had yielded little except for a bilateral agreement between the USA and Qatar to fight "terrorism". Qatar has previously asked U.S. and British officials to investigate the source of the hack.
    Russian Rostelecom has invested $31 million in a hopeless project

    Russian Rostelecom has invested $31 million in a hopeless project

    If Google has over 49 million clicks per day, the audience of "Sputnik" is not more than 4.2 thousand. Earlier it was announced that "Sputnik" will be able to create its own maps in the nearest future.
  • Colorado man accused of throwing toddler into traffic due in court Tuesday

    Colorado man accused of throwing toddler into traffic due in court Tuesday

    The BMW crashed into a curb at North Carefree Circle and West Carefree Circle, police say. The driver didn't pull over and led police on a vehicle chase.
    Milan, Lucas Biglia che lapsus:

    Milan, Lucas Biglia che lapsus: "Forza Lazio"

    Con indosso la divisa rossonera, a Biglia sono stati chiesi i primi autografi da rossonero. Il centrocampista si sta allenando con la Lazio e ha risposto a un tifoso.

    Smith AO Corp (NYSE:AOS) Quarterly Sentiment Change Report

    It is positive, as 64 investors sold HAL shares while 301 reduced holdings. 93 funds opened positions while 140 raised stakes. Following the transaction, the director now directly owns 43,896 shares in the company, valued at approximately $2,381,358.
  • Bottas expected to win new deal

    Bottas expected to win new deal

    At the start while Lewis and Kimi had a clean start, Vettel had a poor start dropping to a fourth behind Max Verstappen who jumped into third.

    Grupo Financiero Galicia SA (GGAL) Lifted to "Buy" at BidaskClub

    Finally, Franklin Resources Inc. purchased a new position in Grupo Financiero Galicia during the fourth quarter worth $7,015,000. The stock of Grupo Financiero Galicia S.A. (ADR) (NASDAQ:GGAL) has "Neutral" rating given on Monday, August 22 by Citigroup.
    EU Weighs New North Korea Sanctions After Missile Test

    EU Weighs New North Korea Sanctions After Missile Test

    He pointed to a 13.2 percent drop in imports from North Korea in the same period as an example of the pressure, adding that there have been sharp decreases every month since March.
  • John Legend, Chrissy Teigen share Bali vacation photos

    John Legend, Chrissy Teigen share Bali vacation photos

    Still, Andy Cohen had some concerns about her being away, commenting, "Come home you're missing RHONY". It's been a busy year for Teigen, Legend, and Luna .
    Roger Waters renews his attack on Thom Yorke over Radiohead's Israel gig

    Roger Waters renews his attack on Thom Yorke over Radiohead's Israel gig

    Pink Floyd frontman Roger Waters has been waging a months-long battle with Radiohead lead singer Thom Yorke over the band's slated Israel gig.
    UAE Denies 'Any Role Whatsoever' in Alleged Qatar Hacking

    UAE Denies 'Any Role Whatsoever' in Alleged Qatar Hacking

    Calling the demands "unworkable", Qatar rejected them, claiming they had been deliberately created to be impossible to meet. UAE Minister of State for Foreign Affairs Anwar bin Mohammed Gargash said Monday that the Washington Post report was false.