Chinese key banks cease services for North Koreans

Chinese key banks cease services for North Koreans

China's Big Four state-owned banks have already ceased providing financial services to new North Korean customers, amid American worries that Beijing hasn’t been tough enough as for Pyongyang's recent nuclear tests.

Tensions between America and North Korea have inched up after the sixth and mightiest nuclear test conducted by the isolated regime on September 3 enabled the United Nations Security Council to impose fresh sanctions on Tuesday.

Chinese financial institutions have been heavily criticized for their decisive role as a conduit for funds flowing to and from North Korea.

China Construction Bank has absolutely prohibited business with the isolated regime, as some sources revealed. The ban was officially imposed on August 28.

Irritated that China hadn’t done more to tame North Korea, the Trump administration was considering fresh sanctions in July on small Chinese financial institutions as well as other companies doing business with North Korea, as two senior US officials disclosed.

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera