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China announces list of restrictions on mineral trade with N. Korea

All Headlines 19:00 April 05, 2016

BEIJING, April 5 (Yonhap) -- China's commerce ministry on Tuesday announced a list of restrictions on imports from North Korea and said it will ban the export of jet fuel in accordance with new U.N. sanctions slapped on Pyongyang following its latest provocations.

Backed by China, the U.N. Security Council adopted a package of fresh sanctions on North Korea earlier last month to punish the North for conducting its fourth nuclear test in January and launching a long-range rocket in February.

The new sanctions require U.N. member states to ban imports of North Korean gold and rare earth metals. But, trade in North Korean coal and iron ore will be allowed if the proceeds from the trade are related to "livelihood purposes."

The Chinese announcement said it will continue to import North Korean coal, iron, and iron ore if such transactions are involved in "livelihood purposes" and their revenues are not used for North Korea's nuclear and missile programs.

China accounts for nearly 90 percent of North Korea's foreign trade, and mineral resources are a key part of their bilateral trade.

Many analysts say the reference to "livelihood purposes" in the new U.N. sanctions could allow China to continue the trade of coal and iron ore with North Korea.

kdh@yna.co.kr
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