China’s commerce ministry on Thursday ordered North Korean enterprises operating on Chinese soil to close within 120 days, following the latest round of sanctions adopted by the United Nations Security Council.
CGTN reported that the decision was made on September 12, a day after the Security Council unanimously approved the new sanctions, but announced on Thursday. All enterprises and joint ventures owned by North Korean individuals or companies must close, according to the notice.
The South China Morning Post reported that non-profit and non-commercial infrastructure projects approved by the Security Council are exempt.
U.N. Security Council Resolution 2375 prohibits “the opening, maintenance, and operation of all joint ventures of cooperative entities, new and existing,” with North Korea, whether or not they are acting on behalf of the government.
China has been Pyongyang’s staunchest ally in the region, but voted in favor of the new measures in response to the country’s latest nuclear tests.
On Wednesday, the United States froze the assets of eight North Korean banks and 26 people with ties with Pyongyang’s financial networks.
UN Security Council Approves New Round of North Korea Sanctions
