Top Chinese bank vows to strictly apply UN sanctions on North Korea
Sources say Chinese banks under orders to stop providing financial services to new North Korean customers
Industrial and Commercial Bank of China (ICBC) will strictly implement United Nations’ resolutions on North Korea, an executive of the bank said on Monday.
ICBC vice-president Wang Jingdong said the bank would “strictly implement UN Security Council decisions related to North Korea and carefully fulfil relevant international responsibility”.
Four sources said China’s central bank had told banks to strictly implement United Nations sanctions against North Korea and instructed them to stop providing financial services to new North Korean customers and wind down loans with existing customers.
The United Nations Security Council stepped up sanctions against North Korea earlier this month in response to the country’s sixth and most powerful nuclear test conducted on September 3.
China announced on Saturday that it would impose an immediate ban on textile imports from North Korea and limit oil exports to its neighbour from next year under UN sanctions over its nuclear and missile development.