facebook
twitter
search
search

Russian economic interests won't be hit by North Korea sanctions

A three-way logistics project involving Russia, North and South Korea will be allowed to continue, an envoy said.
By Elizabeth Shim Contact the Author   |   March 2, 2016 at 10:27 PM
Sign up for our weekly Korea Now newsletter
An exclusive report putting perspective on the week's most important developments.

NEW YORK, March 2 (UPI) -- A three-way logistics project that transports Russian coal to South Korea through a North Korean transfer point will not be the target of the new U.N. sanctions.

Russia's Ambassador to the United Nations Vitaly Churkin said the sanctions do not include any provisions that would affect Russian economic interests, South Korean television network KBS reported.

That includes the "Rajin-Hasan" project, which refers to the Russian and North Korean border cities where shipments of Russian coal have been transferred, en route to South Korea and the southern coast of China.

There have been three trial shipments of Russian bituminous coal since November 2014, and each trial has gone smoothly.

Major South Korean companies have been involved in the logistics project, including the steelmaker POSCO, Hyundai Merchant Marine and national railroad operator KORAIL. In November, two 45,000-ton bulk carriers were used to make the trip three times from Rajin to Busan, South Korea.

Amb. Churkin said Wednesday Russian coal bound for South Korea and transported on the Rajin-Hasan railway does not need permission from the U.N. Security Council sanctions committee, aside from placing a notification regarding cargo movements.

Churkin also said there are no alternatives to a diplomatic solution to North Korea denuclearization, and called for a resumption of the six-party talks.

The chances of dialogue, however, remain dim in the wake of fresh sanctions that were passed unanimously on Wednesday.

A source who spoke to Radio Free Asia on the condition of anonymity said North Korean diplomats are already concerned about the impact of restrictions on their illicit activities.

In Mexico and Brazil, North Korean diplomats are expected to face difficulties in transferring money they have raised from drug trafficking, the source said.

Related UPI Stories
Latest Headlines
Top Stories
Videos