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RT Business: North Korea fuel prices surge after China cuts oil supplies

RT Business: North Korea fuel prices surge after China cuts oil supplies

Moon has said he would use both dialogues and pressures to resolve the standoff over North Korea's nuclear program. The last such talks were held in December 2015.

The proposed meetings, if realised, would be a "rare opportunity to ease tension that has built up for 10 years", said Cheong Seong-Chang, analyst at Sejong Institute think tank. South Korea and the United States, its main ally, dispute the claim.

The United States has been trying to get China and Russian Federation to back a new UN Security Council resolution imposing stiffer sanctions on North Korea following its latest missile test.

The targets now being weighed for sanctions would come from a list of firms numbering "substantially more than 10" that Mr Trump shared with Chinese President Xi Jinping at a Florida summit in April and which USA experts have continued to compile for review, according to one of the officials. The Trump administration isn't taking military options off the table. "The president is fully aware of those", said Gorka.

The White House declined to comment.

The statement, carried by the Korean Central News Agency (KCNA) quotes an unnamed spokesperson for the Ministry of Foreign Affairs, and while no specifics on the measures are provided, the statement references ICBM and nuclear capabilities.

North Korea, which has so far resisted overtures from the new South Korean government that has been less hard-line than previous conservative administrations, will likely receive $6 million from Seoul to help finance this year's census activity in North Korea According to the South Korean government on Thursday, Han Sung-yeol, North Korea's deputy foreign minister, visited the UN Population Fund (UNFPA) office in NY last month and asked for funding for its census activity this year.

"Should the UNSC adopt another "resolution on sanctions", this will trigger corresponding measures by the DPRK and (it will) respond to the "resolution" with its act of justice", the statement reads.

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The government is likely North Korea's largest user of fuel products, but most gasoline and diesel bought by ordinary citizens comes from private dealers and smugglers, experts say.

During a UN Security Council meeting last week, Ms Haley threatened secondary sanctions if the council could not agree on new sanctions - though she did not cite China by name.

Cho also urged the restoration of military and government hotlines across the border, which had been cut by the North past year in response to the South imposing economic sanctions after a nuclear test by Pyongyang.

"We have authorities vested in the Constitution of the United States to take actions if there's an imminent threat".

Cui Tiankai, China's ambassador to Washington, said on Monday secondary sanctions were "not acceptable".

A defector who reports commodity prices for Daily NK, Kang Mi-jin confirmed the price spike in recent week was caused initially by China restricting the flow of oil to North Korea.

Mr Trump pledged repeatedly during his election campaign to get tough on Chinese trade practices deemed unfair to the United States, but his rhetoric softened after the friendlier-than-expected April summit with Mr Xi. If realised, they would be the first in two years.


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