Wednesday, 12 December, 2018

North Korea fuel prices surge after China cuts oil supplies

Melinda Barton | 18 July, 2017, 06:01

But limits to the USA ability to persuade the rest of the world to treat North Korea's weapons program more harshly were also on display after the latest missile test. Nikki Haley, the US ambassador to the United Nations, called an emergency hearing of the Security Council after the launch, where she said a unified worldwide community could cut off hard currency, restrict the flow of oil and boost air and maritime restrictions on Pyongyang.

China National Petroleum Corp (CNPC), a state-controlled company, halted diesel and gasoline sales to North Korea "over the last month or two", amid global pressure on Pyongyang to curb its nuclear and missile programmes, Reuters exclusively reported on June 28.

Moon's government proposed two sets of talks to discuss how to dial down tensions and resume reunions of aging Koreans separated by the 1950-53 Korean War.

The talks at Panmunjon would be aimed at ending "hostile acts" between the two, which "escalate military tension", according to a statement from South Korean Deputy Defense Minister, Seo Joo-Seok.

"So far", Elise adds, "the North has not responded to the offer from Seoul".

The South Korean defense ministry did not clarify what would be on the agenda or what officials would be in attendance at the meeting, "apparently for some flexibility", the news agency Yonhap reports. The ministry also did not elaborate what it meant by hostile military activities.

In his speech in Berlin, South Korean President Moon Jae-in proposed the two sides hold family reunions during the Chuseok holiday on October fourth. It is anxious about an influx of refugees and possible United States troops stationed on its border in an unified Korea.

Seoul wants to have the meeting at Tongilgak, a North Korean building in the truce village of Panmunjom, the South Korean Ministry of National Defence said on Monday (17 July). Moon's two conservative predecessors suspended large aid shipments and major cooperation projects, and cross-border communication hotlines have been shut down.

The stakes have risen for Trump after North Korea's first successful test on July 4 of a missile that could reach Alaska, if not continental America. But he has achieved little progress, with North Korea test-firing a series of newly developed missiles. The December 2015 talks at a now-stalled joint factory park in North Korea ended with no breakthroughs.

Kim Bum-soo has more.

North Korea will likely accept Moon's proposed talks on easing border animosities, as it's something that it's previously called for.

The request to hold talks is the first such formal overture by the new South Korean administration.

The proposal comes around one week after the president of South Korea said talks with the North are more important than ever in order to halt provocations.

That latest launch prompted the warn it would consider all options, including cutting trade with countries that continue to do business with the regime, even though North Korea's top trade partner - China - is also the U.S.'s.