September 25, 2017 / 9:06 AM / in a year

ICBC executive - will strictly implement U.N. resolutions on North Korea

BEIJING (Reuters) - Industrial and Commercial Bank of China (ICBC) will strictly implement United Nations’ resolutions on North Korea, an executive of the bank said on Monday.

FILE PHOTO: Industrial and Commercial Bank of China Ltd (ICBC)'s logo is seen at its branch in Beijing, China, March 30, 2016. REUTERS/Kim Kyung-Hoon/File Photo GLOBAL BUSINESS WEEK AHEAD SEARCH GLOBAL BUSINESS 24 APR FOR ALL IMAGES - RC168C2D87C0

ICBC Vice President Wang Jingdong told reporters during a briefing the bank will “strictly implement UN Security Council decisions related to North Korea and carefully fulfil relevant international responsibility.”

Four sources told Reuters China’s central bank has told banks to strictly implement United Nations sanctions against North Korea and instructed them to stop providing financial services to new North Korean customers and wind down loans with existing customers.

The United Nations Security Council stepped up sanctions against North Korea earlier this month in response to the country’s sixth and most powerful nuclear test conducted on Sept. 3.

Reporting by Shu Zhang and Matthew Miller; writing by Se Young Lee; Editing by Simon Cameron-Moore

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