China stops oil product exports to North Korea as sanctions bite

After UN sanctions against North Korea for its continuing ballistic missile tests, China has ceased to export oil, gasoline, jet fuel and diesel to the rogue nation.

 

December 28th

According to data from China’s General Administration of Customs, Beijing did not export any oil products to North Korea in November. The halt comes as the U.N. imposed new limits on trade with North Korea. In fact, only few days ago the U.N.  Security Council unanimously voted in favour of the resolution to introduce new sanctions against North Korea.

China exported no oil, gasoline, jet fuel and diesel to North Korea in November and imported no iron ore, coal or lead from it either. It is pretty rare for China to cut off supply to the regime completely. Last week, the U.N. Security Council imposed new caps on trade with North Korea, including limiting oil product shipments to just 500,000 barrels a year.

According to Chinese Foreign Ministry spokeswoman Hua Chunying “As a principle, China has consistently fully, correctly, conscientiously and strictly enforced relevant UN Security Council resolutions on North Korea. We have already established a set of effective operating mechanisms and methods.”

At the same time, Chinese exports of liquefied petroleum gas that is often used for cooking, rose by 58 percent from a year earlier, while exports of ethanol, which can be turned into a biofuel, rose by 82 percent. Industry sources say China still supplies about 520,000 tonnes of crude a year to North Korea via an old pipeline. That is a little more than 10,000 barrels a day, and worths about $200 million a year at current prices. North Korea also sources some of its oil from Russia.

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