China’s government has ordered most North Korean-owned businesses and ventures with Chinese partners to close under UN sanctions imposed over the North’s nuclear and missile programmes, according to reports.
A Ministry of Commerce order said businesses owned by North Korean companies or individuals must close within 120 days of the September 11 approval of the latest sanctions, according to reports in the Chinese media.
China is North Korea’s main trading partner and businesses in China help to provide the isolated country with foreign currency.
UN sanctions that have been steadily tightened ban North Korea from selling coal and textiles and order other governments to limit fuel supplies.
North Korean businesses and ventures with Chinese partners must close within 120 days of the September 11 approval of the latest sanctions, according to the Ministry of Commerce. That would be early January.
North Korean companies operate restaurants, trading outfits and other ventures in China, helping to provide the North with foreign currency.
The latest round of sanctions approved by the UN Security Council ban member countries from operating joint ventures with North Korea.
The sanctions also ban sales of natural gas to North Korea and purchases of the North’s textile exports, another key revenue source. They order other nations to limit fuel supplies to the North.
China, which provides the bulk of North Korea’s energy supplies, announced Saturday it would cut off gas and limit shipments of refined petroleum products, effective January 1. It made no mention of crude, which makes up the bulk of Chinese energy supplies to North Korea and is not covered by the UN sanctions.