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Last Updated Wednesday March 21 2018 06:02 PM IST

UN sanctions effect: China bans new business with North Korea

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China bans new business with North Korea in line with sanctions  A North Korean flag flies on a mast at the Permanent Mission of North Korea in Geneva. File photo/Reuters

Beijing: China's commerce ministry late on Friday banned North Korean individuals and enterprises from doing new business in China, in line with United Nations Security Council sanctions passed earlier this month.

New joint venture enterprises, new wholly owned businesses and the expansion of existing entities involving North Korean individuals or companies are prohibited in China, according to a

notice released on the ministry's website.

Applications for new or expanded investment in North Korea by Chinese companies would not be approved, the ministry said. The new measures take effect immediately.

New sanctions by China, Japan, the United States and the United Nations are aimed at pressuring Pyongyang to end its nuclear weapons program.

Read more: Latest world news | Trump signs memo banning transgender military recruits

The opinions expressed here do not reflect those of Malayala Manorama. Legal action under the IT Act will be taken against those making derogatory and obscene statements.

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