China tells Japan not to abandon dialogue over North Korea

Business Insider

Business Insider

Earlier this month, branches of three major banks - Bank of China, China Construction Bank and Agricultural Bank of China - in the border area reportedly suspended transactions for North Koreans.

The US has accused China of not doing enough to pressure Pyongyang into abandoning its nuclear programme.

Trump praised China on Thursday for what he said was instructions to its banks to cut off business with North Korea. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy.

"Anything that we need now is the denuclearization.We urge DPRK to not to go further on a unsafe direction", Wang said while addressing the 72nd General Elections of the United Nations.

"The wild acts of the South Korean authorities are tantamount to the crimes committed by traitor Park Geun Hye who was keen on sycophancy toward the United States and confrontation with the fellow countrymen in the north".

In the event of North Korea deciding to test a hydrogen bomb over the Pacific Ocean, Tokyo is not ruling out the possibility that it could be delivered by a ballistic missile flying over Japanese territory, Defense Minister Itsunori Onodera told a news conference on Friday.

Trump hits back at 'madman' Kim with new economic sanctions
The president's bellicose rhetoric was in turn answered by Kim in a rare personal statement broadcast on state television. President Donald Trump delivered a stern warning to North Korea over its ballistic missile launches and nuclear tests.

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China to limit oil supplies to North Korea
Beijing is also banning imports of textiles, one of Pyongyang's last major sources of foreign revenue. The area where the quake struck, authorities said was near the nation's known nuclear test site.

Mr Trump said the new sanctions aim to cut off global trade and financing that Kim Jong Un's regime uses to support its nuclear and ballistic missile weapons programmes.

The document directed banks to explain to any North Korean customers that "our bank is fulfilling our global obligations and implementing United Nations sanctions against North Korea".

Speaking of the recently concluded BRICS summit in Xiamen, southeast China's Fujian Province, Wang said the top priority is to implement the outcomes of the meeting and turn the political consensus regarding investment, finance, infrastructure and people-to-people exchanges among the BRICS leaders into actual moves.

The agreement was violated in 2006, when North Korea conducted its first nuclear test.

Chinese banks have come under scrutiny for their role as a conduit for funds flowing to and from China's increasingly isolated neighbour.

The document asked banks to fully implement United Nations sanctions against North Korea and warned of economic losses and reputational risks to banks that did not do so.

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