Chinese banks may have started to impose sanctions on North Korea, according to reports by South Korea’s Dong-A Ilbo. As of yesterday, ICBC’s Dandong Branch has suspended dealings with North Korea.
Dong-A Ilbo correspondents spoke with Dandong ICBC staff on February 18 and 19. ICBC staff told the South Korea media outlet that the bank had started to suspend dealings with North Korea starting in December, even before North Korea’s nuclear tests on January 4. The bank has shut down services to North Korea including foreign currency deposits and transfer services.
An expert on North Korea told Dong-A Ilbo that, “China is under pressure to take some measures against North Korea after North Korea’s recent nuclear test. In response, China has expanded sanctions against North Korea.”
When North Korea held its third nuclear test in February 2013, China joined the United Nations and the United States in enforcing new sanctions against the DPRK.
The Global Times reported that cross-border businesses between Chinese and North Korean companies has been suspended since last December.
Source: ifeng.com
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Keywords: North Korea ICBC ICBC Dandong
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I firmly believe that Kim is helping the American government more so than the Chinese government. The American uses North Korea as an excuse to militarize in the region. If China were smart they would negotiate a limited Mutual protection agreement with South Korea, stating that if the North attacks or provokes an attack on the South that China would defend and attack South Korea. But China will never do such a thing because China is small minded and doesn't see the big picture.
Feb 25, 2016 05:56 Report Abuse
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