Report: Russia to reduce economic ties with North Korea in 2018

MOSCOW, Feb 8 (PRIME) -- Moscow will continue scaling down its economic ties with Pyongyang in 2018, Russian ambassador to North Korea Alexander Matsegora said in an interview with Rossiya 24 television channel on Thursday.

“Unfortunately, there is a process of contraction of our contacts in most economic spheres. I am afraid that the process may continue this year,” he said.

Matsegora also said that Russia sells only goods permitted by U.N. resolutions to North Korea.

“The sanctions of the U.N. Security Council do not prohibit trade with North Korea. They have of course limited the product range and restricted legal payment possibilities, but trade is not prohibited,” he said.

In August 2017, the U.N. Security Council expanded sanctions against North Korea in response to new ballistic missile tests. The resolution bans exports of iron, iron ore, lead, coal and seafood from the country, and freezes its Foreign Trade Bank’s accounts.

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