World, Economy, Asia - Pacific

China to limit oil product exports to North Korea

The country also banned textile imports from North Korea

23.09.2017 - Update : 23.09.2017
China to limit oil product exports to North Korea FILE PHOTO

By Fuat Kabakci

ANKARA

China will limit its oil product exports to North Korea and banned textile imports to implement the United Nations Security Council (UNSC) sanctions, said China's Trade Ministry on Saturday. 

The decision to restrict the sale of liquefied natural gas (LNG) to North Korea will take effect on Oct. 1. The import of textile products will stop Dec. 10., the ministry said.

The oil products exported to North Korea will be 2 million barrels per annum as of January 1, 2018, according to the ministry.

The export limit and import ban were taken within the framework of the UNSC sanctions against North Korea, said the statement.

North Korea has some limited crude oil exploration, but it has no proved reserves of petroleum and other liquids, according to The U.S.' Energy Information Administration (EIA) 

China supplies most of North Korea's crude oil imports, and some estimates report that North Korea imports about 10,000 barrels of oil per day, according to the EIA.

Reporting by Fuat Kabakci in Beijing; Writing by Huseyin Erdogan

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Related topics
Bu haberi paylaşın