President Moon proposes international embargo on oil supplies to N. Korea

[Yonhap Photo]

In an apparent message to China, seen as North Korea's economic lifeline, South Korean President Moon Jae-in floated the idea of imposing an oil embargo as the international community discussed tougher sanctions in response to a fresh nuclear test by the isolated regime.

At a telephone conversation, Moon suggested that the United Nations Security Council should hold serious discussions about cutting off oil supplies to North Korea, according to a statement published by the president's office.

"It's time for the UN Security Council to seriously consider ways to fundamentally block North Korea's foreign currency sources by cutting off crude oil supplies and banning the exportation of laborers," Moon was quoted as saying.

It was not known how Putin reacted to Moon's proposal. The statement vaguely quoted the Russian leader as saying a statement adopted at a BRICS emerging economies summit in China condemned the nuclear test but called for a diplomatic solution.

Pressure also came from Trump who threatened to halt all trade with any country that does business with Pyongyang.

"The time has come to exhaust all of our diplomatic means before it's too late. We must now adopt the strongest possible measures," US Ambassador Nikki Haley told an emergency meeting of the Security Council. "Only the strongest sanctions will enable us to resolve this problem through diplomacy."

In response, China and Russia called for a peaceful or diplomatic solution not to escalate tensions in Northeast Asia. "The peninsula issue must be resolved peacefully. China will never allow chaos and war on the peninsula," said Chinese Ambassador Liu Jieyi.

China, which ships a large amount of food and energy to North Korea, has been reluctant to impose an oil embargo over fears that its isolated ally could collapse due to chronic energy and food shortages.

A full international oil embargo endorsed by China would be painful and effective in harassing the regime of Kim Jong-un who has tried to consolidate his grip on power by raising living standards.

There are no reliable official figures on North Korea’s crude imports and consumption, but data from the Korea Trade-Investment Promotion Agency (KOTRA), a state body in Seoul, showed North Korea imported 525,000 tonnes of crude oil from China in 2015.

Beijing, which accounts for about 90 percent of North Korea's trade in 2016, banned imports of North Korean coal and iron ore in February. Coal is the main source of energy in the impoverished communist country where oil has been consumed much by armed forces and public bodies.

Lim Chang-won cwlim34@ajunews.com

President Moon proposes international embargo on oil supplies to N. Korea

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