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China bans steel, caps crude oil to N Korea

China bans steel, caps crude oil to N Korea
January 08
06:54 2018

BEIJING: China has tightened its export and import regime banning steel and other metal exports to North Korea and warned its citizens and firms of strict penalties for violating UN Security Council sanctions against Pyongyang.
China’s ministry of commerce banned steel and other metal exports to North Korea and limited exports of crude oil and refined oil products.
China will halt exports of industrial machinery, certain vehicles, iron, steel and other metals to North Korea, the ministry said on its website.
Exports of crude oil will not exceed four million barrels (525,000 tonnes) during any 12-month period, and exports of refined oil products will cease when the total approaches a ceiling of 500,000 barrels.

The ministry will also ban imports of grain, farm produce, certain types of minerals, electric devices and other products from North Korea.
The decision came after the UNSC resolution 2397 to tighten sanctions against North Korea in response to its latest ballistic missile launch.
China also warned its citizens and firms of strict penalties if they engage in activities that violate UNSC resolutions amid allegations that some Chinese ships are stealthily supplying oil to North Korea.

“We have noticed the relevant reports,” foreign ministry spokesperson Geng Shuang said in Beijing in response to media reports that few Chinese ships had changed their flag country and registration place, to conduct activities that ran counter to Security Council resolutions.
China would impose serious penalties on anyone that had been confirmed as violating Security Council resolutions, he said.
“China has always comprehensively and strictly implemented the UN Security Council resolutions and carried out its due international obligations,” he said.
“The international shipping industry is open, and it is common for ships to change flag country, registration place or charter to other parties,” Geng said.-PTI

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