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News ID: 76525 |
Publish Date: 15:51 - 25 September 2017

China Restricts Oil Product Exports to North Korea

CHINA has decided to curb exports of refined oil products and ban the sale of condensate and liquefied natural gas to North Korea, in line with the UN Security Council’s fresh sanctions on Pyongyang.

China Restricts Oil Product Exports to North Korea
According to MANA, in a statement published on Friday, the Ministry of Commerce said all condensate and LNG shipments to North Korea would be banned from September 23, as part of the move to implement UN Security Council resolution 2375.
Exports of refined petroleum product imports will also be restricted from October 1.
The UN has capped Pyongyang’s refined petroleum product imports to 500,000 barrels for an initial period of three months starting October 1, 2017, and to 2m barrels a year from January 1, 2018.
When the levels are reached, Chinese authorities will then prohibit all exports of refined petroleum products, the ministry added.
As North Korea’s main supplier of oil products, China reportedly exports 6,000 barrels per day to its northern neighbour, according to the US Department of Energy's analysis of UN customs data.
While UN resolution 2375 also bars UN member states from selling crude oil to North Korea more than what was sold in the 12-month period prior to the latest resolution, the ministry’s statement did not specify any further details on that part of the resolution.
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