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Branches of China’s biggest banks have suspended financial transactions for North Koreans, saying Beijing has pursued stronger measures against its nuclear-armed ally than previously thought.
Staff at branches in Beijing and the border city of Yanji – a major trade and transportation hub between the two neighbours – said their banks have banned North Koreans from opening new accounts and some have even started to close existing ones.
The restrictions were imposed well before the United Nations Security Council unanimously approved new sanctions on Pyongyang yesterday following its latest and largest nuclear test.
Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank confirmed the financial curbs for North Korean clients.