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China says willing to pay price for new UN sanctions against North Korea

File photo of Chinese foreign minister Wang Yi Photograph: (Reuters)

WION Web Team New Delhi, Delhi, India Aug 08, 2017, 12.53 AM (IST)

China will pay the biggest price from the new UN sanctions against North Korea because of its close economic relationship with the country but will always enforce the resolution, Chinese foreign minister Wang Yi said.

"Owing to China's traditional economic ties with North Korea, it will mainly be China paying the price for implementing the resolution," China’s foreign ministry cited Wang as saying.

"But in order to protect the international non-proliferation system and regional peace and stability, China will as before fully and strictly properly implement the entire contents of the relevant resolution."

The UN Security Council unanimously adopted new sanctions on Saturday in response to Pyongyang's long-range ballistic missile tests on July 4 and July 28.

The new sanctions could slash North Korea’s $3 billion annual export revenue by a third.

The latest resolution targets North Korea's primary exports -- including coal, iron and seafood. It also prohibits countries from increasing the numbers of North Korean labourers currently working abroad, bans new joint ventures with North Korea and any new investment in current joint ventures.

Also read: North Korea ready to teach US 'severe lesson'

Pyongyang on Monday called the UN sanctions "fabricated" and warned there would be "strong follow-up measures" and acts of justice. It said the resolution showed the United Nations had abused its authority.


 

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