Chinese State Banks Are Cracking Down On North Korean Business


China is starting to put real pressure on North Korea as the rogue regime steps up its ballistic and nuclear weapons game.

Chinese state-run banks are starting to suspend transactions for accounts held by North Koreans, making it difficult for the two countries to do business, reports Japan’s Kyodo News Agency. North Koreans can still withdraw money, but they cannot make deposits or remittances or open new accounts.

“This is being influenced by international sanctions against North Korea,” one bank employee told reporters.

North Korea has conducted a string of provocative missile tests, as well as a surprisingly powerful nuclear test. Since the start of the year, the North has launched short-, medium-, intermediate-, and long-range missiles for strikes throughout the region and across parts, if not most, of the continental U.S. In the wake of North Korea’s second intercontinental ballistic missile test, the United Nations Security Council approved tough sanctions on the North, and China agreed to take the necessary steps to curb Pyongyang’s ambitions.


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