Chinese Authorities Unaware of Chinese Banks Possibly Restricting Operations in North Korea

Chinese Authorities Unaware of Chinese Banks Possibly Restricting Operations in North Korea

Liao Shumin

Date: Tue, 09/12/2017 - 16:36 / source:Yicai
Chinese Authorities Unaware of Chinese Banks Possibly Restricting Operations in North Korea
Chinese Authorities Unaware of Chinese Banks Possibly Restricting Operations in North Korea

(Yicai Global) Sept. 12 -- China’s Ministry of Foreign Affairs has responded to foreign media reports that some Chinese banks are restricting operations related to North Korea, indicating it is unaware of specific operational changes made recently by banks with regards to the country.

China remains opposed to the implementation of unilateral sanctions outside the UN’s Security Council framework regarding North Korea, said ministry spokesperson Geng Shuang at a regular press briefing on Sept. 11.

Journalists in attendance had asked Geng if claims that some Chinese banks have introduced new regulations to restrict individual and company operations in North Korea were true.

"China has been fully and strictly implementing the UN Security Council resolution and fulfilling its international obligations. I do not understand the specific circumstances mentioned just now,” he said.

“I would like to emphasize that China opposes the imposition of unilateral sanctions outside the framework of the United Nations Security Council, particularly against the action of any other country implementing the so-called long arm jurisdiction of Chinese entities or individuals under its own domestic law. China’s position is very clear and consistent,” he added.

The UN Security Council passed a 15-to-0 vote resolution on sanctions for North Korea following its latest nuclear test. The sanctions would ban textile exports of North Korean and limit shipments of North Korean oil products.

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Keywords: Bank, North Korea, Ministry of Foreign Affairs