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China central bank issues notice on implementing U.N. resolutions
September 11, 2017 / 7:52 AM / 9 days ago

China central bank issues notice on implementing U.N. resolutions

FILE PHOTO: A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, China April 3, 2014. REUTERS/Petar Kujundzic/File Photo

BEIJING (Reuters) - China’s central bank issued a statement on Monday on the implementation of U.N. Security council resolutions without specifying which resolutions or the affected parties.

The People’s Bank of China said that Chinese financial agencies and specific non-financial institutions are required to record the related individuals and entities in their system and conduct retrospective investigation once they receive the ruling from the country’s foreign ministry.

The notice did not specify which U.N. resolution it would comply with or which individuals or entities would be targeted.

The U.N. Security Council is due to vote on fresh sanctions on the North Korean regime later in the day.

A U.S.-drafted resolution originally calling for an oil embargo on the North, a halt to its key exports of textiles and subjecting leader Kim Jong Un to a financial and travel ban, appears to have been watered down to appease Russia and China, which both have veto powers, diplomats said.

Reporting by Beijing Monitoring Desk; Editing by Shri Navaratnam

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