Daily Management Review

China counts losses from sanctions against the DPRK


China will pay the highest price because of the new UN sanctions against North Korea, since the two countries have historically close economic ties. At the same time, the PRC will always implement the resolutions, said Chinese Foreign Minister Wang Yi.

(stephan) via flickr
(stephan) via flickr
The UN Security Council unanimously imposed new sanctions on North Korea on Saturday, which could affect the reduction of annual export revenues of $ 3 billion by a third.

Speaking at the regional security forum in Manila on Monday, Wang said that the new resolution demonstrated opposition to the ongoing missile tests of North Korea to China and the international community, the statement of the Ministry of Foreign Affairs of the PRC said.

"Thanks to China's traditional economic ties with North Korea, China will mainly pay for the implementation of the resolution," Wang said in the statement. " However, China will continue to fully and strictly implement the entire content of the relevant resolution to protect the international non-proliferation (nuclear weapons) and regional peace and stability".

China has repeatedly stated that it is committed to strengthening tough UN resolutions on North Korea, although the country believes that this should not harm ordinary trade and ordinary people of the DPRK.

The latest US resolution prohibits the North Korean export of coal, iron, iron ore, lead, lead ore and seafood. Also, the countries are banned from increasing the number of North Korean workers currently working abroad. It is also prohibited to establish new joint ventures with North Korea and any new investments in current joint ventures.

Wang said that in addition to the new sanctions in the resolution it was also clear that the process of the six-party talks (the stalled dialogue with North Korea), which also includes Russia and Japan, should be resumed.

China highly appreciated US Secretary of State Rex Tillerson’s comments that the United States does not seek to overthrow the North Korean government and would like to have a dialogue with Pyongyang at some point, Wang added.

The United States does not seek a regime change, a regime crash, an accelerated reunification of the peninsula or a pretext to send US military to North Korea, Tillerson said.

source: reuters.com

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