• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 20 mins Tidal Power Closer to Commercialisation
  • 2 hours US-backed coup in Venezuela not so smooth
  • 7 hours Oil-sands recovery by solvents has started on a trial basis; first loads now shipped.
  • 50 mins Read: OPEC THREATENED TO KILL US SHALE
  • 7 hours New Rebate For EVs in Canada
  • 3 hours Solar to Become World's Largest Power Source by 2050
  • 15 hours Why U.S. Growers Are Betting The Farm On Soybeans Amid China Trade War
  • 22 hours Fisker Announces 'Mass Market' Electric SUV
  • 6 hours Oil stocks are heating up again! What's on your Watchlist?
  • 5 hours Boeing Faces Safety Questions After Second 737 Crash In Five Months
  • 10 hours Malaysia Oil & Gas Updates
  • 11 hours Biomass, Ethanol No Longer Green
The Billionaires Battling It Out Over Biofuel

The Billionaires Battling It Out Over Biofuel

The biofuel credit debate is…

Oil Price Rally Hits Resistance

Oil Price Rally Hits Resistance

Oil prices are holding their…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Tokyo Seeks Tough U.N. Response To North Korean Missile Launch

Sea

A day after North Korea fired a ballistic missile over Japan, Tokyo is pushing the United States to encourage the United Nations to levy new sanctions against Pyongyang, including choking off North Korea’s oil supplies, a new Reuters report said.

New measures could be designed to target North Koreans who work abroad or oil supplies. The U.S. is usually the nation author of all drafts of the U.N.’s sanctions on North Korea. American diplomats then negotiate any potential sanctions with China, Pyongyang’s main ally in international circles.

The medium-range ballistic missile, fired, according to Kim Jong-un’s regime, in retaliation for South Korean military tests with the U.S., flew over northern Japan. Tokyo is seeking a “strong resolution” on North Korea, according to Koro Bessho, the Japanese ambassador to the U.N.

“We will certainly discuss it with the United States,” Bessho told reporters on Wednesday.

Beijing’s newest round of sanctions against Pyongyang ban only oil and gas exports from North Korea, while steady oil supplies from China to North Korea continue to prop up Pyongyang, allowing it to avert an energy meltdown, according to new reports emerging from the area.

Cheap North Korean workers still work in dimly lit factories to continue progress in weapons factories and related projects.

Still, the Chinese military has plans to defend North Korea from any ideas of regime change from the United States.

Related: Oil Prices Rise As Texas Braces For Hurricane Harvey Landfall

“If China believes [it is] very much necessary to send troops inside to best serve its interests, I don’t see why China wouldn’t do so,” said Zhao Tong from the Carnegie Tsinghua Centre for Global Policy, based in Beijing.

Fresh sanctions against North Korea cover seafood, coal and iron ore coming from the country into China, which costs Kim Jong-un’s regime $1 billion a year. The new measures are sure to cut deep into the impoverished country of 25.1 million people, 70 percent of whom are food insecure.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News