Economy

Fuel prices in North Korea surge after China cuts oil sales

Fuel prices in North Korea surge after China cuts oil sales

U.S. Sen. Cory Gardner, R-Colo., stated last Thursday the North Korean Enablers Accountability Act, would "ban any entity that does business with North Korea or its enablers...and to impose U.S. sanctions on all those participating on North Korean labor trafficking abuses".

History has proven that we can't depend upon intervention by Beijing to curtail this existential nuclear threat. "We have to put pressure on China", he said.

North Korea has developed an intercontinental ballistic missile that can potentially reach the USA, but it is unlikely Kim Jong-un would use it on a whim.

On July 4, North Korea test-fired its first ICBM, claiming that it can hit targets anywhere in the world. Their state media reported, "As a full-fledged nuclear power that has been possessed of the most powerful intercontinental ballistic rocket capable of hitting any part of the world, along with nuclear weapons, the DPRK [North Korea] will fundamentally put an end to the usa nuclear war threat and blackmail". Russian Federation believes the only solution to the Korean dispute is negotiations with Pyongyang that result in security guarantees for the Kim Jong Un regime. Greitens says that's not a good trade for the U.S.to make.

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In addition to deepening its engagement with Seoul, Russia has used diplomacy to press North Korea to desist from further aggression towards Japan and South Korea.

The bipartisan legislation on North Korea introduced last week in Washington may be treading new territory with sanctions against at least one Chinese garment company suspected of hiring North Korean forced laborers.

The U.S.is working on its Terminal High Altitude Area Defense system, otherwise known as THAAD. Both clearly want to loosen America's global alliances, and they often back each other in U.N. Security Council resolutions.

Frustrated that China has not done more to rein in North Korea, the Trump administration could impose new sanctions on small Chinese banks and other firms doing business with Pyongyang within weeks, two senior USA officials said.

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Continued North Korea provocations, however, is pushing Washington toward stepping up unilateral sanctions, a move Beijing has opposed. U.S. President Donald Trump meanwhile has upped pressure on Beijing and Pyongyang, threatening some "pretty severe things" in response to the Kim regime's missile tests.

Last Tuesday, the USA military successfully intercepted a simulated intermediate-range ballistic missile using the Terminal High Altitude Area Defense (THAAD) system similar to one being deployed in South Korea.

It is for this reason that North Korea sought nuclear weapons and maintained the level of belligerence and saber rattling it has. Notably, this other new rocket's high-performance liquid-fueled engine appears to have been developed from scratch rather than by adapting a Russian or Chinese design.

The UK is "absolutely determined" to make North Korea "see sense" over its nuclear weapons testing, Boris Johnson said as he pushed for tougher action at talks in Brussels. Only American steadfast determination can defuse it.

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