BREAKING NEWS

China announces restrictions on trade with N.Korea

By REUTERS

APRIL 5, 2016 12:13

BEIJING - 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 UN 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.

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