China announces restrictions on trade with North Korea
China’s Commerce Ministry on Tuesday banned imports of North Korean gold and rare earths and exports to the country of jet fuel and other oil products used to make rocket fuel, a move in line with new United Nations sanctions on Pyongyang.
The Security Council unanimously passed a resolution in early March expanding U.N. sanctions aimed at starving North Korea of funds for its nuclear and ballistic missile programs after Pyongyang conducted a fourth nuclear test in January and launched a long-range rocket in February.
The mining sector is a key part of North Korea’s economy, which is already largely cut off from the rest of the world. Experts believe revenue from the sector helps underwrite North Korea’s military expenditures.
(Reporting by Michael Martina and David Stanway; Editing by Clarence Fernandez)