The European Union is tightening economic sanctions on North Korea. This, in reaction to this month’s nuclear bomb test seen by practically every nation on earth as a belligerent provocation.
The new sanctions bar any trade with the rogue state in government bonds, diamonds, gold, and precious metals including certain types of aluminum used in ballistic missiles.
North Korean banks are barred from opening new branches in the European Union and European banks would not be able to open new branches there, although it is unclear if North Korea has any banks in Europe.
China is North Korea’s only major friend in the world, and is urging all parties to remain over the situation. China’s Foreign Ministry says, “The situation of the peninsula currently is sensitive and complicated." Spokesman Hong Lei reiterated that China is opposed to North Korea’s nuclear weapons tests.