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  HOME | Oil & Energy (Click here for more)

China Bans Steel Exports, Limits Oil Supply to North Korea

BEIJING China implemented on Saturday a ban on exports of steel and other metals to North Korea and placed limits on the supply of crude oil and petroleum products to the country, in line with United Nations Security Council resolutions.

In a statement published on its website on Friday, the Ministry of Commerce announced a complete ban on the sale of iron, steel and other metals, industrial machinery and transport vehicles to North Korea.

It also said that crude oil exports to the country should not exceed four million barrels or 525,000 tons during any given 12-month period, while the sale of refined petroleum products would be stopped after reaching the imposed limit of 500,000 barrels for 2018.

China also banned imports of some products from North Korea, including cereal, soy, and other agricultural products, some minerals, wood and electrical equipment.

These measures were announced by China in order to implement Resolution 2397 of the UN Security Council, adopted in December in response to the most recent ballistic missile test by the Kim Jong-un regime.

This was the 10th resolution passed by the Security Council, where China is a permanent member, to harden sanctions against Pyongyang since 2006, when North Korea carried out its first nuclear test.

 

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