Go to Contents Go to Navigation

N. Korea's coal exports to China drop sharply affected by sanctions

All News 16:49 June 01, 2016

SEOUL, June 1 (Yonhap) -- North Korea's coal exports to China dropped sharply, apparently affected by toughened sanctions on Pyongyang following its fourth nuclear and long-range missile tests earlier this year, a foreign ministry official said Wednesday.

The North exported US$72.27 million worth of coal to China in April, down from the $116.6 million a year earlier, according the official who cited Chinese government data.

"This data was confirmed through China's commerce ministry and we have concluded that the figures are reliable," he said on condition of anonymity. "I heard from China that it was the result of its enforcement of sanctions on the North."

North Korea depends heavily on China for exports, with 90 percent of its overseas shipments bound for its closest ally. Of the total, coal account for nearly 40 percent, serving as a major "life line" for foreign currencies.

The North conducted its fourth nuclear test in January, followed by a long-range missile test in February, both of which drew the strongest ever condemnation from the international community.

In March, the U.N. Security Council adopted the Resolution 2270, seen as the toughest sanctions slapped on the North in history. Each member country is expected to submit its detailed action plan for the latest sanctions no later than June 2.

The official also confirmed that China and Russia have banned 27 vessels owned by the Ocean Maritime Management Co. (OMM) from entering their seaports, enforcing the latest resolution which blacklisted the North Korean company.

"Those 27 OMM-owned ships have been confirmed either to be operating near the North Korean coast or remain anchored," he said. "Sanctions on ships that carry natural resources and goods can have an impact on the North's efforts to earn foreign currency."

kokobj@yna.co.kr
(END)

Issue Keywords
Most Liked
Most Saved
Most Viewed More
HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!