Chinese customs data showed that in November the China not exported oil products to North Korea. As beyond the sanctions imposed, a few months earlier by the United Nations in a bid to limit petroleum shipments to the isolated country. Tensions have flared over North Korea’s ongoing nuclear and missile programmes, due to the United Nation resolutions. Last week, the U.N. Security Council imposed the new cap including limiting oil product shipments to just 500,000 barrels a year, which effect on the trade with North Korea. On the other side, Beijing also not imported iron ore, coal or lead from North Korea in November, because of latest trade sanctions imposed by U.N.
Moreover, the data from the General Administration of Customs showed on Tuesday, that the main source of North Korea’s fuel is China which did not export any gasoline, jet fuel, diesel or fuel oil to its isolated neighbour last month. The last time jet fuel shipments of China to Pyongyang were also zero in the February month of the year 2015. So, November was the second straight month that China exported no diesel or gasoline to North Korea.
The China National Petroleum Corp (CNPC) has suspended sales of gasoline and diesel to North Korea from June of this year. Previous reports said that China is concerned that it would not get paid for its goods. However, in March 2003, Pyongyang fired a missile into waters between the Korean Peninsula and Japan, due to which China suspended oil supplies to North Korea but only for three days. It is still not confirmed that China still sells crude oil to Pyongyang or not.
According to the Industry sources, via an aging pipeline, China still supplies about 520,000 tonnes, or 3.8 million barrels, of crude in a year to North Korea. This figure shows that about than 10,000 barrels a day, and worth about $200 million a year at current prices crude is supplied by the china to North Korea.
Leave a Comment