Published: Tue, September 26, 2017
Markets | By Lucia Cruz

China announces imposition of oil sanctions on North Korea from Oct 1

China announces imposition of oil sanctions on North Korea from Oct 1

Kim on Friday threatened the "highest level of hard-line countermeasure in history" in a tirade against Trump's warning that Washington would "totally destroy" the North if the U.S. or its allies were threatened.

"A likely explanation of the signals is an aftershock or rock failure resulting from the previous large underground nuclear test carried out on September 3, the agency said".

Chinese earthquake officials earlier said the tremor was a "suspected explosion", while South Korean officials and CTBTO, the nuclear proliferation watchdog, both said they believed it was a natural quake. On its website, the USGS said that it "cannot conclusively confirm at this time the nature (natural or human-made) of the event".

Monitoring groups estimate that the nuclear test conducted in North Korea earlier this month had a yield of 250 kilotons, which is 16 times the size of the U.S. bomb that destroyed Hiroshima in 1945. The larger one had a 3.4 magnitude, the group's initial assessment found, which is much smaller than anything declared as a nuclear test in previous years.

China hoped that Japan talked and acted cautiously and played a constructive role on the nuclear issue, he said. Since Kim came to power after the death of his father Kim Jong Il in 2011, he has ramped up nuclear and missile weapon tests.

Kim vowed to take the "highest-level" action in response to US President Donald Trump's threat at the United Nations to "totally destroy" the North over its nuclear and missile programmes.

North Korean Foreign Minister Ri Yong-ho said in NY on Thursday that Pyongyang may consider its most powerful test of a hydrogen bomb over the Pacific Ocean.

North Korea has launched dozens of missiles this year, several flying over Japan, as it accelerates its program aimed at enabling it to target the United States with a nuclear-tipped missile.

Wang told Japan Foreign Minister Taro Kono on the sidelines of a United Nations meeting in NY that the situation on the Korean peninsula was getting increasingly serious and all sides needed to remain calm.

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In a rare direct statement, Kim said that Trump would "pay dearly" for the threats, and that North Korea "will consider with seriousness exercising of a corresponding, highest level of hard-line countermeasure in history".

One - titled "We will throw the irrational war fanatics of Trump's gang in the fire of justice" - condemned Trump's United Nations speech as "rubbish".

North Korea's state media issued a statement Saturday from the National Peace Committee of Korea describing Trump as "wicked" and "a rabid dog".

Mr Trump delivered a combative speech on Tuesday at the UN General Assembly, where he mocked Kim as a "Rocket Man" on a "suicide mission". Luther Strange, Trump lashed out against Kim, telling the crowd, "we can't have madmen out there shooting rockets all over the place".

"It is a foolish misjudgment if Trump's gang thinks that America is safe because it's far away from the Korean Peninsula".

To comply with a UN Security Council resolution calling for sanctions over North Korea's nuclear activity, China said Friday that it will limit its exports of refined petroleum products to Pyongyang as well as ban imports of the North's textiles. It would ban exports of liquefied natural gas to the North immediately as well.

"We are prepared to use the full range of military capabilities to defend the USA homeland and our allies".

Textile trade contracts signed before September 11 would be respected if import formalities are completed before midnight on December 10, the statement said.

Russian Foreign Minister Sergey Lavrov said this week that "we're witnessing a very risky confrontation spiral around (North Korea)". We are inviting all interested countries to pool efforts and to do their best to reach our common goal as soon as possibl,"Russian Foreign Ministry spokeswoman Maria Zakharova said".

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