North Korea’s major trading partner, China, has started implementing the latest UN sanctions of September 11, by ordering North Korea’s firms, companies, and businesses out of its Country within 120 days.
The ultimatum, which will end January, 2018, will witness the cutting of foreign revenue for Pyongyang as part of the sanctions imposed by the UN, over its continued nuclear and missile programs.
China’s move has seen the US State Department urging skeptical members of the UN Congress not to rush to enact the new sanctions on Pyongyang in order to give Beijing’s efforts a chance to take effect.
The 120 days ultimatum will see joint ventures of the Chinese and North Koreans closed.
Other sanctions adopted against the North Korea after the Country conducted its 6th and largest nuclear test include:
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Ban on all North Korean textile exports
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Cut off more than 55% of refined petroleum products such as gasoline and fuel going to North Korea
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Cap shipments of crude oil into North Korea at current levels
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Ban on countries from hiring new North Korean workers
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Authorize new measures for cracking down on North Korea’s maritime smuggling
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Place new restrictions on North Korean Government organizations like the Central Military Commission and the Propaganda and Agitation Department
The sanctions are expected to take $1.3bn out of Pyongyang’s revenue.
Meanwhile, China is worried of the full impact of the UN sanctions which would create a refugee crisis on the Korean Peninsula and likely send millions of North Koreans pouring across the Chinese-North Korean border.
Russia, which shares a much smaller border with North Korea, has real interest in regional stability and keeping US presence in the area as limited as possible.
