Reports have emerged that have looked into the impact of Russia’s oil exports to North Korea.
Over the past few months, Russia has been aiding NK with its oil imports which have abruptly plummeted the oil prices in the country. The same reports also suggest that Russia is preventing the US from successfully isolating North Korea due to this.
According to Asia Press International, oil prices in Russia dropped down significantly in November. The reports also claimed that the price of diesel has gone down by 60 percent and 25 percent for gasoline since then. These dropping oil prices came ahead of United Nations Security Councils resolution and US pressure of cutting off the fuel supply to North Korea.
Allegedly, the large quantities of fuel enter North Korea via NK’s Ryanggang province; the one that borders China. It’s not easy to comment over China and North Korea’s ties but experts believe that both counties have a history of doing business together.
Lisa Collins, who is an expert on the Korea at the Center for Strategic and International Studies, told Newsweek, “There are a lot of trade channels that exist between China and North Korea, some licit and some illicit, so I wouldn’t be surprised if Russia were taking advantage of those. We do know that Russia has given North Korea some oil in the past, and I believe that there were some reports that North Korea was using ships to get around the Security Council sanctions that would hide the origin of the oil.”
It’s not the first time the news of Russia providing fuel to North Korea has emerged. In September, the Washington Post and Reuters also reported that Russia is helping NK amidst U.S. sanctions.
In September, the Security Council unanimously decided to limit the supply of refined petroleum products to NK at two million barrels a year, while the export of all gas liquids and condensates. Interestingly, the resolution legally permits Russia to sell some oil to NK.
Note: All content is original & written by NewsCrux Team.