09-22-2017, 08:15 AM
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Apocalypse
Industry Role:
Join Date: May 2007
Location: Limbo
Posts: 3,043
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REPORT: China tells its banks to stop doing business with North Korea
Quote:
China reportedly told its banks to stop doing business with North Korea.
The People's Bank of China, the country's central bank, told banks to "strictly implement United Nations sanctions against North Korea," four sources told Reuters.
Reuters added that banks were "told to stop providing financial services to new North Korean customers and to wind down loans with existing customers."
The UN Security Council last week unanimously voted to levy a new round of economic sanctions in response to the country's recent nuclear provocations.
Much attention has been paid to the commercial and financial ties between China and North Korea in recent months. Some have argued that the North Korean crisis could be "solved" if China applied economic pressure on the isolated government.
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