China's c.bank tells banks to stop doing business with N.Korea

Cheryl Sanders
September 24, 2017

Earlier, hours after US President Donald Trump's hard hitting speech at the United Nations about North Korea, where he ridiculed Kim Jong-un, the country's leader, the latter has promised to make the former "pay dearly". Yes, while the world community was clutching its pearls over Trump's otherwise bellicose rhetoric before the U.N. General Assembly, the administration was getting to the economic meat of the matter.

"It is only a forlorn hope to consider any chance that the DPRK (North Korea) would be shaken an inch or change its stance due to the harsher sanctions by the hostile forces", the foreign minister said.

On Friday, Russia urged "hot heads" to calm down as the United States admitted it feels "challenged" by North Korea's warning that it could test a hydrogen bomb over the Pacific.

South Korean TV footage also showed Ri saying he feels "sorry for his aides" when he was asked about Trump's "Rocket man" comments. China's central bank has ordered all the financial institutions to apply the United Nations sanctions following the recent complaints from the U.S. administration that Beijing is exposing too many loopholes for North Korea.

Approaching midnight on Saturday, the president made an alarming threat to North Korea, doubling down on insulting the nation's leader Kim Jong Un.


Trump had earlier threatened Pyongyang with "fire and fury".

Mr Trump later used his speech to the UN General Assembly to tell the world he would "totally destroy" North Korea if the US was threatened by its regime.

However, the sanctions package is not as severe as Trump had previously threatened, as he had stated before that he would target any foreign government doing business with North Korea.

Although the U.S. already penalises foreign firms having ties with North Korea's military programs, the wider ambit of the latest sanction would be applicable to all businesses. Finally, they affirmed continued coordination in preparation for President Trump's visit to Japan later this year.

Trump also called North Korean leader Kim Jong Un "Rocket man".


Furthermore, China is suspected to have intentionally assumed the continuous smuggling activities that have rapidly supported Pyongyang's development of advanced weapons despite the global warnings and prohibitions against such sophisticated technologies.

Tens of thousands of people reportedly took part in an anti-America march in Pyongyang on Friday.

The North's last nuclear test, on September 3, was the country's most powerful, triggering a much stronger 6.3- magnitude quake that was felt across the border in China.

"The quake is presumed to have occurred naturally, a sound wave, which is usually generated in the event of an artificial natural disaster, was not detected, " said an agency official.


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