China announced on Saturday that it will limit oil exports to North Korea after the United Nations imposed sanctions on Pyongyang in response to its nuclear test, AP reported.
China’s Commerce Ministry has said that it will limit exports of refined petroleum to 2 million barrels a year, and sales of liquefied natural gas will be banned outright, from January 1. It will also ban textile imports from North Korea. Textile was one of Pyongyang’s last major sources of foreign income.
On September 12, the United Nations Security Council banned textile exports and imposed curbs on shipments of oil products after North Korea’s latest nuclear test. North Korea was condemned globally for conducting its sixth nuclear test since 2006 on September 3. The country claimed it had tested an advanced hydrogen bomb.
In August, the United Nations had issued sanctions banning exports of coal, iron, iron ore, lead, lead ore and seafood from North Korea, new joint ventures with the country and any new investment in existing joint ventures. This was expected to cost North Korea up to $1 billion (around Rs 6,400 crore) in annual export revenue.