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News // Coal

China announces September 5 cut off of North Korean coal

15 August 2017 , 18:00Neftegaz.RU337

China announced on August 15, 2017, it will cut off imports of North Korean coal, iron ore and other key goods in three weeks under U.N. sanctions imposed over the North's nuclear program.

 

China, the isolated North's main trading partner, has been reluctant to push leader Kim Jong Un's regime too hard for fear it might collapse.

 

But Beijing is increasingly frustrated with Pyongyang and joined in approving a U.N. Security Council ban on August 5 on coal and other key goods.

 

The Chinese customs agency said it will stop processing imports of North Korean coal and iron at midnight on September 5.

 

The latest sanctions are intended to block exports valued at more than $1 billion - a significant loss to total exports valued at $3 billion last year.

 

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