United States considers sanctions on Chinese companies over North Korea

He also offered to hold reunions of families torn apart by the war on October 4, Korea’s lunar fall harvest holiday and the 10th anniversary of the second inter-Korean summit.

The ministers supported South Korea’s diplomatic lead and urged North Korea to engage in a “credible and meaningful dialogue” to defuse tensions and denuclearise the peninsula. They would also come roughly two weeks after North Korea conducted its latest missile test this year, launching an intercontinental ballistic missile that landed in the Sea of Japan. Iron ore is among China’s biggest imports from the North after it stopped buying coal this year due to the sanctions.

“We will continue to strictly and earnestly implement the North Korea-related Security Council resolution in its entirety”, said Geng at a regular news briefing.

In response to North Korea’s latest missile test, the US and South Korea conducted live-fire bombing exercises along the DMZ, making one wonder who’s really provoking whom? The case could provide the basis for U.S. penalties against the five companies, similar to those imposed on another Chinese corporation, Dandong Hongxiang Industrial Development Co., last year.

Beijing agreed in March 2016 to enforce United Nations sanctions following North Korea’s test of a missile possibly capable of carrying a nuclear warhead.

Huang said month-on-month figures showed an even sharper decline. It would leave larger Chinese banks untouched for now, the official said.

Behind the push for tough sanctions is the USA threat to carry out military strikes on North Korea that would trigger a devastating war on the Korean Peninsula and more broadly.

China has always been the North’s main diplomatic defender but increasingly expresses frustration with leader Kim Jong Un’s provocative behavior.

“Trade between China and North Korea grew nearly 40% in the first quarter”, Trump tweeted the day after North Korea launched its first intercontinental ballistic missile.