China Is Kicking Out All North Korean Businesses

by Ben Pena September 29, 2017, 0:17
China Is Kicking Out All North Korean Businesses

Treasury Secretary Steven Mnuchin says the U.S.is targeting those "across the globe" who facilitate financial transactions for North Korea.

In Moscow, Russia's foreign ministry said it was working behind the scenes to find a political solution and that it plans to hold talks with a representative of North Korea's foreign ministry who is due to arrive in Moscow on Tuesday, the RIA news agency cited the North's embassy to Russia as saying.

Trump said the North Korean leader was behaving "very badly".

South Korean lawmaker Lee Cheol-uoo, briefed by the country's spy agency, said North Korea was bolstering its defences by moving aircraft to its east coast and taking other measures after the flight by United States bombers.

China's Ministry of Commerce announced Thursday that North Korean companies and joint ventures will close within 120 days of the most recent United Nations sanctions resolution, according to multiple reports.

The US has pressed China to use its economic leverage to strongarm North Korea into giving up its nuclear ambitions.

In response to Trump's call for war, the North Korea has strengthened its military forces across the eastern border.

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North Korean businesses and ventures with Chinese partners must close within 120 days of the U.N. Security Council's September 11 approval of the latest sanctions, according to the Ministry of Commerce.

China warned Tuesday that any conflict on the Korean peninsula would have "no winners", after North Korea accused US President Donald Trump of declaring war on it.

But Beijing appears to be running out of patience with North Korea's nuclear antics - the last test earlier this month triggered an natural disaster that was felt in northeast China.

North Korea has been working to develop nuclear-tipped missiles capable of hitting the U.S. mainland, which Trump has said he will never allow.

There has been no official confirmation from China of such a step.

China has ordered North Korean companies in the country to shut down by January as it applies United Nations sanctions imposed following Pyongyang's sixth nuclear test, the commerce ministry said on Thursday.

Commenting on the recent escalation of war of words between U.S. and North Korea, Beijing warned against any potential military conflict on the Korean Peninsula and urged the two countries to realize that military means are never a viable way out. He says it's part of the effort to isolate North Korea over its nuclear weapons program.


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