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North Koreans hit hard by sanctions, report says

North Koreans hit hard by sanctions, report says

The US measures would initially hit Chinese entities considered "low-hanging fruit", including smaller financial institutions and "shell" companies linked to North Korea's nuclear and missile programs, said one of the officials, while declining to name the targets.

Foreign Ministry spokesman Geng Shuang said Chinese exports of iron to North Korea for civilian purposes do not relate to the sanctions targeting Pyongyang's nuclear and missile programs, and China will continue implementing the resolutions "in an all-out manner".

It also bitterly opposes South Korea's deployment of a sophisticated US missile defense system that Beijing says jeopardizes Chinese security because of an ability to monitor missile launches and other military activities within northeastern China.

The decline follows China's decision in February to ban all imports of North Korean coal.

China's exports to North Korea rose 29.1% in the first half of the year, with total trade with Pyongyang growing 10.5% to $2.55 billion.

Tensions on the Korean Peninsula remain high after North Korea claimed it had successfully tested an intercontinental ballistic missile earlier this month. As a result, "accurately analyzing year-on-year changes is hard", according to diplomatic sources.

"Simple accumulated data can not be used as evidence to question China's severe attitude in carrying out UN Security Council resolutions", Huang told a news briefing.

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-Frustrated that China has not done more to rein in North Korea, the Trump administration could impose new sanctions on small Chinese banks and other firms doing business with Pyongyang within weeks, two senior U.S. officials said.

"North Korea's economy is closely related to China hence the latter has the leverage to bring North Korea to the table", he said.

"It's high time for the United States to maximise global economic pressure against Kim Jong-Un's regime as well as against the many foreign banks and foreign companies that are enabling it, especially in China", said Rubio, who led in introducing the legislation.

The proposed bill requires President Donald Trump to prohibit all government and business interactions and imposes trade sanctions. The surplus with the United States was China's largest since October 2015.

"Trade between China and North Korea grew nearly 40 percent in the first quarter".

The legislation gives those that now conduct trade with North Korea a clear choice - either do business with this heinous outlaw regime or do business with the world's leading economic and military power, he said.

The US ambassador to the UN, Nikki Haley, said on Sunday that Washington would crank up pressure on China to ensure it implements sanctions over the missile test.


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