Published: Mon, September 25, 2017
Global | By Maureen Mccoy

China to limits fuel, textile exports to North Korea

China to limits fuel, textile exports to North Korea

A magnitude 3.0 quake has been detected in North Korea around where a nuclear test recently took place but it has been assessed as natural, South Korea's weather agency said.

The moves follow the adoption of a unanimous UN Security Council agreement on sanctions after the isolated North conducted its sixth and most powerful nuclear test on September 3.

USA bombers, escorted by fighter jets, flew off the North Korean coast in a show of force on Saturday, while in Pyongyang, tens of thousands of people staged a mass rally to express support for "final victory" over the United States and call for the annihilation of the enemy, the state Korean Central News Agency reported.

Rex Tillerson didn't directly say how the USA might address a hydrogen bomb test in the Pacific.

North Korean leader Kim Jong Un also issued a scathing statement on Thursday, in which he referred to Trump as a "mentally deranged dotard".

China's quake administration said it was a magnitude 3.4 natural disaster and cited a "suspected explosion". The council has told member countries to ban most activity overseas by North Korea's banks in response to its nuclear and missile tests.

Besides allied and unilateral military and diplomatic signaling, our main tool to influence North Korean behavior has been sanctions.

Sales of refined petroleum products will be limited to two million tons per year, the commerce ministry said, while the export of all liquified natural gas and condensates will be banned.

North Korea depends on China for nearly all its oil and gas but estimates of its consumption are low, leaving it unclear how Beijing's new limit will affect them.

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The proposal included a ban on oil and textile exports to North Korea and prohibited North Korean citizens from working overseas . The US put forward another draft resolution Monday that made considerable changes to a previous version of the proposal.

Beijing has halted its imports of coal, iron ore, seafood and other goods, implementing United Nations sanctions imposed on North Korea for its provocative nuclear and missile tests.

SIPRI listed North Korea as not having any deployed warheads but with 10 to 20 "other warheads" which include "operational warheads held in storage and retired warheads awaiting dismantlement".

In public, China's foreign ministry has calmly advocated restraint, and warned Pyongyang and Washington on Friday not add oil to the fire.

If it is confirmed as a nuclear test, it would be the North Korean regime's seventh.

The Trump administration is also specifically targeting North Korea's shipping and trade networks.

In August, China implemented another UNSC resolution against North Korea, which targeted some key revenue sources of the communist state - coal, iron, and seafood exports among other goods, depriving it of $1 billion annual foreign revenue.

Kim Jong Un of North Korea, who is obviously a madman who doesn't mind starving or killing his people, will be tested like never before! Most of those threats have been against the US. A Japanese representative to the United Nations said the resolution strengthens sanctions to "an unprecedented level, with the ban on textile exports expected to reduce its revenues by $ 800 million".

Amid growing concern over China's economic ties to North Korea, the Chinese central bank told its banks to stop providing financial services to new North Korean clients and to pull back on loans it has with current clients.

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