China limits oil supplies to North Korea

China's Banks Halt Business With North Korea Per UN Sanctions

The authorities in China, a key country to solve growing conflict that is lived in Korean peninsula, announced this Saturday that it will limit oil exports to its neighbor communist from next 1st of October. They include a total and immediate ban on natural gas and textile exports and limiting annual petroleum exports to 2 million barrels beginning January 1.

China said the new restrictions are in accordance with United Nations sanctions leveled against the North to stymie its nuclear and missile ambitions. "The limit on crude oil exports seems to have been excluded from this announcement due to statistical reasons".

China has been North Korea's top ally for decades and now accounts for an estimated 90 percent of the country's trade.

Chinese state media have been inconsistent in discussing the prospects of an oil ban.

Trump announced new U.S. sanctions on Thursday that he said allows the targeting of companies and institutions that finance and facilitate trade with North Korea.

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China's tougher moves follow the North's sixth and most powerful nuclear test on Sept 3, which sparked a fresh round of United Nations sanctions against Pyongyang. The aim of this action would be to keep North Korea from continuing with its nuclear program. "However, confrontation between the two is likely to occur".

President Donald Trump has put China at the forefront of US efforts to rein in North Korea's nuclear program. US Treasury Secretary Steven Mnuchin also said banks doing business in North Korea would not be allowed to operate in the United States. He called the nation a "grave threat to peace and security in our world". According to France Presse, price of gasoline has gone up in Pyongyang 20% in last two months.

North Korea also produces coal, some $US1.2bn of which was exported to China in 2016, but China had already strictly limited its imports of North Korean coal earlier this year.

Russian Federation urged calm on Friday after US President Donald Trump called North Korean leader Kim Jong Un a "madman".

The North Korean leader earlier labelled Mr Trump "mentally deranged" and a "dotard" while Mr Trump labelled Mr Kim a "madman" in response. If some days ago u.s. leader threatened to "rocket man" to "completely destroy" ir country, yesterday Kim responded with a virulent diatribe towards "old chocho american" and threatened to "exercise hardest countermeasure of History", which could be launch of a hydrogen bomb over Pacific.

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