China tells companies to abide by U.N. North Korea sanctions


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China tells companies to abide by U.N. North Korea sanctions

China told its companies on Friday they need to pay attention to the latest U.N. sanctions on North Korea, especially those related to coal, to avoid any unnecessary economic losses.

The U.N. Security Council imposed new sanctions on North Korea last month aimed at cutting its annual export revenue by a quarter, after Pyongyang carried out its fifth and largest nuclear test so far in September.

The 15-member council unanimously adopted a resolution to slash North Korea’s exports of coal, its biggest export item, by about 60 percent with an annual sales cap of $400.9 million, or 7.5 million metric tonnes, whichever is lower.

China’s Commerce Ministry said in a statement on its website that “relevant companies” should pay close attention to the sanctions and restrictions, especially on coal.

“Understand the United Nations circular about North Korean coal exports, make preparations in advance and rationally arrange imports to avoid unnecessary losses,” it said.

reuters.com/article/us-china-northkorea-trade-idUSKBN14C14Z

If this turns out to be accurate, it may be Beijing wants to negotiate a bit more with the US. There are some defense systems they find quite objectionable and the new administration will be full steam ahead deploying such.


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