Photo: KCNA/via ReutersBeijing: China announced on Monday that it will cut off imports of North Korean coal, iron ore and other goods in three weeks under UN sanctions imposed over the North’s nuclear and missile programmes. The Chinese customs agency said it will stop processing imports of North Korean coal, iron and lead ores and fish at midnight on 5 September. The latest UN sanctions are intended to block North Korean exports worth $1 billion—a significant share of total exports valued at $3 billion last year. The Chinese import cut will come during the week of Foundation Day on 9 September, the North Korean holiday commemorating the founding of the country’s government in 1948. Chinese imports from North Korea fell 7.6% in the same period to 611 million yuan ($91 million), squeezing the North’s revenue.

Source: Mint August 14, 2017 10:18 UTC