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'N. Korea to Stockpile 1Mn Tons of Oil in Preparation of Sanctions'

News2017-09-02
'N. Korea to Stockpile 1Mn Tons of Oil in Preparation of Sanctions'

A Japanese newspaper reports North Korea set a goal in April to stockpile one million tons of petroleum in preparation for global sanctions.

The Tokyo Shimbun noted that one million tons is around half to two thirds of North Korea's annual imports of crude oil and related products.

The article cited a North Korean figure as saying that leader Kim Jong-un made this decision during a meeting of the state affairs commission. 

Following the decision, a large number of gas stations reportedly shut down in Pyongyang, sharply raising petroleum prices.

North Korea imports one-point-five to two million tons of crude oil and petroleum products each year, of which more than 90 percent is known to come from China.

The Japanese government is persuading the international community for the UN Security Council to impose more sanctions on the North, including an oil embargo following Pyongyang's launch of a missile on Tuesday which flew over Japan. 

The newspaper said Pyongyang has fired nearly 20 ballistic missiles this year with speculations more launches or a sixth nuclear test could be on the way.

The report said the regime appears to be hastening efforts to stockpile oil in case restrictions on oil imports expand.

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