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Yonhap News: NK's oil price dives amid sanctions: RFA
SEOUL, Dec. 3 (Yonhap) -- The prices of diesel oil and gasoline in North Korea showed significant drops this month thanks to their alleged massive supply from Russia, a U.S. broadcaster reported Sunday, citing a Japanese report.
According to the Tokyo-based Asia Press International (API) report on the North's market price index, diesel oil was sold at 6,765 North Korean won (US$0.82) per kilogram and gasoline at 15,990 won, Radio Free Asia said.
The figures represented respective drops of more than 60 percent and 25 percent from 17,500 won and 23,250 won early last month, the broadcaster said.
Jiro Ishimaru, head of API Osaka, discovered that the plunges began late last month, according to the broadcaster.
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Update: Oil prices in North Korea dip due to imports from Russia (UPI)
WNU Editor: So much for sanctions. As to how is North Korea paying for this? My guess is doing deals like this .... North Korean coal piles up as Russian product sails away (Daily Mail/AFP). As for shipping North Korean coal to China, those sanctions appear to be working .... North Korean coal piles up as sanctions take their toll and exports to China grind to a halt (SCMP).
3 comments:
That's not a sustainable business model.
Both Russia and North Korea are under sanctions, it makes sense that they will always try to circumvent such sanctions. Its survival tactics. If the US is sanctioning every other country, what should stop these countries from trading with each other
Anon And dishonouring your I.O.U.'S - which is what disallowing credit for U.S. dollar accounts held by 'sanctioned' countries or individuals amounts to - is a sustainable business model for international trading ? The Swiss would never had tolerated such abuse because they knew it would lead to collapse of the system as holders of currency unable to use it were realizing the actual value : nothing. For a fiat currency to so such is doubly ridiculous.
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