China puts squeeze on North Korea as trade dries up

North Korea

China and Russian Federation also have proposed dual suspension - the United States and South Korea halt their military drills while DPRK halts its nuclear and missile tests - as a way to ease the tensions on the Korean Peninsula.

Americans are also "generally prohibited" from dealing with them.

Kirakosyan claimed in an interview with TASS on August 22 that he never made any deals with North Korea, although he talked with Pyongyang at least five years ago about supplying Armenian wine and cigarettes.

On Aug. 6, the United Nations Security Council unanimously imposed new sanctions on North Korea banning exports of coal, iron, iron ore, lead, lead ore and seafood, in a bid to choke off a third of Pyongyang's $3 billion in annual export revenue.

"The U.S. action will not help the solution of the problem as well as the mutual trust and cooperation with China", Chinese Foreign Ministry spokeswoman Hua Chunying told media during a regular news briefing, according to AFP.

The US Treasury Department slapped punitive measures on a clutch of Chinese and Russian individuals and companies Tuesday, accusing them of supporting North Korea's nuclear programme and attempting to evade US sanctions.

They were created to starve the regime of resources to develop its nuclear and ballistic missile programs by slashing its annual export revenues by a third.

WASHINGTON (AP) - President Donald Trump declared the USA nuclear arsenal "far stronger and more powerful than ever before", even as his top diplomat was working to calm the North Korea crisis and insisting there wasn't "any imminent threat".

In total, the USA has blacklisted 23 entities and 22 individuals linked to North Korea since the launch of the Trump administration in January.

This AP file photo shows U.S. Treasury Secretary Steven T. Mnuchin.

"We strongly urge the USA to immediately correct its mistake, so as not to impact bilateral cooperation on relevant issues", the spokesperson said, as quoted by the Financial Times.

The Justice Department said it is seeking a forfeiture of almost $7 million from Velmur Management and associated Transatlantic Partners over allegations they laundered money for sanctioned banks that were trying to procure petroleum from JSC Independent Petroleum Company.

The Russian Embassy did not respond to a request for comment.

"We understand it as a reaffirmation of the USA determination to resolve the North Korean nuclear issue", it said.

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