ibusinesslines.com
ibusinesslines.com June 23, 2018


China's imports from North Korea plummet in December, lowest for 4 years

14 January 2018, 07:29 | Erica Roy

China's imports from North Korea plunged in December to the lowest level in dollar terms since at least the start of 2014, with trade curbed by United Nations sanctions aimed at persuading North Korea to abandon its ballistic missile and nuclear weapons programmes.

The Trudeau government has provided little information in the days leading up to the Vancouver summit, despite being a co-host, and appears to be instead consumed with the threat of a trade war with the U.S.

"And maritime interdiction helps us to disrupt resources and then the financial side helps us to disrupt the financing of their nuclear and missile program".

The penalties that came into force on Sept 5 a year ago banned countries from buying coal, iron ore, lead, lead ore and seafood from North Korea.

North Korean soldiers are said to be sleeping without removing their boots since they have been told a war with the United States could emerge any moment.

Finance Canada deputy spokeswoman Jocelyn Sweet said the directive came after the Financial Action Task Force raised concerns about - and urged a harder line against - North Korean money laundering in November.

North Korea observed a six-week break in missile launches between September 15 and November 29, but the prospect of war with the US, which held a series of joint military drills with South Korea during that period, never stopped preoccupying the officials who spoke with Vorontsov.


But Hook said the idea was one of many being explored, and that the allies invited to Vancouver would be consulted.

China, the main source of North Korea's fuel, also did not export any gasoline, jet fuel, diesel or fuel oil to its neighbour.

"This ministerial will enhance and strengthen all of the efforts underway to achieve our policy goals", he said.

China, which has traditionally served as an economic lifeline for the North, has started putting pressure on Pyongyang to curb its ballistic and nuclear ambitions.

China said Wednesday it will not attend next week's meeting of foreign ministers in Canada to discuss how best to respond to North Korea's nuclear and missile programs.

"We believe that the North Koreans are starting to feel the bite of a global pressure campaign", he said.



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