At U.N., China delays U.S. bid to blacklist ships, companies over North Korea

UNITED NATIONS (Reuters) – China delayed a U.S. request for a United Nations Security Council committee to blacklist 33 ships, 27 shipping companies, and a Taiwan man for violating international sanctions on North Korea, diplomats said on Friday.

The United States submitted the request a week ago, a move it says is “aimed at shutting down North Korea’s illicit maritime smuggling activities to obtain oil and sell coal.”

The U.N. request coincided with the U.S. imposing its largest package of unilateral sanctions against North Korea on Friday, intensifying pressure on Pyongyang to give up its nuclear weapons and missile programs.

China did not give a reason for placing a so-called hold on the U.S. request. A hold can be lifted and is often used when a Security Council member wants more information, but sometimes it can lead to a permanent blocking of a proposed blacklisting.

The Security Council North Korea sanctions committee works on the basis of unanimity.

If agreed, the 33 ships proposed by the United States, 19 of which are North Korean vessels, would be subjected to a global port entry ban. Countries would also be required to deregister the 14 ships that are not North Korean.

The 27 proposed companies and the one individuals would be subjected to an asset freeze.

The U.N. Security Council has unanimously boosted sanctions on North Korea since 2006 in a bid to choke off funding for Pyongyang’s nuclear and ballistic missile programs, banning exports including coal, iron, lead, textiles and seafood, and capping imports of and refined petroleum products.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.