• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 8 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 14 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 8 hours Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 3 days Are you aware of Oil Price short videos on our energy topics?
  • 3 days NordStream2
  • 2 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 3 days Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 2 days "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT

Breaking News:

California Gasoline Prices Are Spiking

ZeroHedge

ZeroHedge

The leading economics blog online covering financial issues, geopolitics and trading.

More Info

Premium Content

Chinese Ships Caught Illegally Selling Oil To North Korea

According to South Korea's Chosun Ilbo, U.S. recon satellites have photographed around 30 illegal transactions involving Chinese vessels selling oil to North Korea on the West Sea in October. The images allegedly showed large Chinese and North Korean ships transacting in oil in a part of the West Sea closer to China than South Korea. The satellite pictures even showed the names of the ships.

(Click to enlarge)

A government source said, “We need to focus on the fact that the illicit trade started after a UN Security Council resolution in September drastically capped North Korea’s imports of refined petroleum products.”  Meanwhile, on paper, China’s trade with North has recently collapsed after U.S. President Donald Trump unleashed a barrage of sanctions in September targeting North Korea’s imports of refined petroleum products.

Back in November, the US. Treasury Department sanctioned an additional six North Korean shipping and trading companies and 20 of their ships after the satellite pictures surfaced. In the above picture, the North Korean ship named Ryesonggang 1, was easily identified and connected to the illegal sale of oil from China.

According to Chosun Media, "the department noted that the two ships appeared to be illegally trading in oil from ship to ship to bypass sanctions."

Ship-to-ship trade with North Korea on the high seas is forbidden in UNSC Resolution 2375 adopted in September, but such violations are nearly impossible to detect unless China aggressively cracks down on smuggling.   

Last month, the Communist Party spokespeople slammed new U.S. sanctions targeting Chinese traders doing business with North Koreans, calling them “wrong”. At this point, it’s still unknown if the Chinese government is turning a blind eye to the illegal open sea transactions with North Korea, but as of today it seems as a blatant snub to the Trump administration.

Meanwhile, as President Trump and the U.S. celebrate last week’s latest round of new sanctions for North Korea at the UN, the likelihood of illegal smuggling routes between the two countries will surely expand. The question then is with all diplomatic avenues exhausted and China violating a UNSC resolution, what happens next?

By Zerohedge.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Tom on December 28 2017 said:
    China just cut itself out of the partition of North Korea between USA and Russia.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News