China Ready to Pay Price for Sanctions Against N Korea for Stability in Region

BEIJING (Sputnik) — China as the main trade partner of North Korea is ready to pay high price for the new UN Security Council sanctions against Pyongyang for the sake of denuclearization and stabilization on the Korean peninsula, Chinese Foreign Minister Wang Yi said on Tuesday.

"If we consider traditional economic relations between China and North Korea, it is China that will have to pay most of the price for implementation of the latest resolution. However, for the sake of supporting international system of nuclear non-proliferation and to maintain peace and stability in the region, China, as always, will strictly and fully comply with respective resolutions," Wang said during the ASEAN forum in Manila, as quoted in the statement released by the ministry.

On Saturday, the UN Security Council unanimously adopted Resolution 2371, tightening sanctions against North Korea after the latter’s recent missile tests. The restrictions, targeting coal, iron, iron ore, lead and seafood imports from North Korea to UN member states, are expected to reduce Pyongyang’s foreign currency earnings by $1 billion from the current level of some $3 billion.

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by Mike Rivero via WHAT REALLY HAPPENED More at