China imposes limit on oil supply to North Korea | WHAT REALLY HAPPENED


China imposes limit on oil supply to North Korea

China announced Saturday that it will limit energy supplies to North Korea and stop buying its textiles under U.N. sanctions imposed over its nuclear and missile development, further reducing support from Pyongyang's last ally.

Exports of refined petroleum to the North will be limited to 2 million barrels per year, effective Jan. 1, the Commerce Ministry said. Sales of liquefied natural gas are banned outright.

North Korea depends on China for almost all its oil and gas but estimates of its consumption are low, leaving it unclear how Beijing's new limit will affect them. The restrictions announced Saturday do not apply to crude oil, which makes up the biggest share of energy exports to the North.

China also will ban textile imports from the North, the ministry said. Textiles are believed to be the North's biggest source of foreign revenue following rounds of U.N. sanctions under which Beijing cut off purchases of coal, iron ore, seafood and other goods.

China accounts for some 90 percent of the North's trade, making its cooperation critical to efforts to derail Pyongyang's nuclear and missile development.

Webmaster's Commentary: 

I have to admit; I did NOT see this coming, but good on the Chinese government for having taken this step; now, we are going to see how North Korea responds to this stiffening of sanctions against it.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA