India bans most trade with North Korea
/On April 21, the Indian government announced it was banning most trade with North Korea. The only exceptions are for food and medicine. The changes to Indian trade policy in regards to North Korea, now bring it into line with United Nations (UN) sanctions on North Korea.
Until recently India was the third largest trading partner with North Korea, behind China and Saudi Arabia. From 2015-2016 India exported $111 million in goods to North Korea and imported around $88 million.
In addition, India has stated that it will freeze funds and financial assets held within its territory by the North Korean government.
Key Links:
- CNN Money - "North Korea cut off by 3rd biggest trading partner"
- Government of India: Ministry of External Affairs - "Democratic People's Republic of Korea - Non-Proliferation order, April 21, 2017"
- Most recent UN Security council resolution concerning North Korea - "Resolution 2321 (2016)"
