KBS WORLD Radio
Related News
Chronology of Events
NK Nuclear Facilities
Missile Capabilities
Long-Range
Rocket Launch
Untitled Document
   
Russia to Freeze All Financial Transactions with N. Korea
2016-05-07 Updated.
 
Russia is set to freeze all financial transactions with North Korea and also suspend mineral imports from Pyongyang.
 
A draft of a presidential decree disclosed on the Russian government’s Web site includes details on implementing the UN Security Council sanctions against North Korea which were adopted in March.
 
According to the decree, Russia will shut down affiliates, branches and representative offices of North Korean banks in Russia and not allow any new such entities. It will also ban money transfers with and purchasing shares of a North Korean bank.
 
People working for a North Korean firm or individual who are blacklisted on the UN sanctions list will also be deported.
 
Import of coal, iron ore, gold and titanium from the North is also banned.
 
One exclusion is the Rajin-Khasan logistics project through which Russian coal is exported using the North's Rajin port. 
 
In the past when a UNSC resolution was adopted following a nuclear or missile provocation by Pyongyang, it typically took over seven months for a presidential decree to be approved in Russia. A presidential decree is required to implement the resolution.
 
This time, a draft decree has surfaced in just two months of the latest UN resolution showing that Moscow is acting more swiftly than usual.
 
 
List