BANK of China has closed the account of North Korea’s main foreign exchange bank, which was hit with US sanctions in March after Washington accused it of helping finance Pyongyang’s nuclear weapons program.
The state-run Foreign Trade Bank had been told of the closure and that its transactions had been halted, Bank of China, the country’s biggest foreign exchange bank, said in a statement yesterday. It gave no reason for the closure and the bank declined to comment further.
The closure is the first significant, publicly announced step taken by a Chinese entity to curb its dealings with North Korea in the wake of international pressure to punish Pyongyang over its banned nuclear and ballistic missile programs.
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Shanghai Daily.com via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/fOlDWqWXa3w/
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