Putin Cuts Ties with NKorea in Line with UN Policy

Putin Cuts Ties with NKorea in Line with UN Policy

Putin Cuts Ties with NKorea in Line with UN Policy

President Vladimir Putin says Russia is curtailing economic, scientific and other ties with NKorea in line with restrictions imposed by the United Nations.

President Putin’s decree, published Monday on the state legal portal, orders the halting of an array of economic, scientific and technical ties with Pyongyang in accordance with sanctions imposed by the UN Security Council in November 2016.

It includes various restrictions on trade, financial transactions and transport ties with NKorea.

Russia and China have backed US sanctions against Pyongyang over its nuclear and missile programs, though Moscow emphasized that the sanctions must not hurt ordinary people.

 Moscow and Beijing also proposed to negotiate a freeze in NKorea’s nuclear and missile programs along with a freeze on military maneuvers by US and South Korea.

The E has levied  new sanctions on NKorea for developing nuclear weapons and ballistic missiles.

The sanctions agreed by EU foreign ministers Monday include a total ban on EU investment in NKorea, and a ban on the sale of refined petroleum products and Crude Oil.

The EU slashed from 15,000 to 5,000 Euros ($17,700 to 5,900) the amount of money people can send to NKorea, as it believes these “personal remittances” are used to back Pyongyang’s arms programs.

The ministers also decided not to renew work permits for NKoreans working on their territories, apart from refugees and others in need of international protection.

Asset freezes and travel bans were slapped on a further three people and 6 “entities,” which are usually companies or organizations.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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