Earlier this month, North Korea detonated a powerful hydrogen bomb at its Punggye-ri nuclear test site in the north-east of the country. There was no immediate confirmation from the Chinese government that it had imposed a financial embargo on North Korea. The same restriction would apply to any vessel involvement in ship-to-ship transfers with North Korean vessels. “Foreign financial institutions must choose between doing business with the United States or facilitating trade with North Korea or its designated supporters,” a White House statement said. The impact will be minimal, as trade and investment relations between North Korea and EU are tiny.

Source: The Guardian September 21, 2017 22:41 UTC