U.S. Sanctions Chinese, Russian Companies Aiding N. Korea

[Swordsmyth]

As tensions rise over North Korea, the U.S. Treasury this morning said it was slapping new sanctions on Chinese and Russian entities conducting oil, coal and banking business with Pyongyang, and propping up the country’s weapons program.
The sanctions target 16 Chinese and Russian individuals and companies, with the bulk targeting Chinese entities which have been buying and selling oil and coal with North Korea, or offering related banking services to facilitate these transactions.
“The Treasury will continue to increase pressure on North Korea by targeting those who support the advancement of nuclear and ballistic missile programs, and isolating them from the American financial system,” said Treasury Secretary Steven T. Mnuchin.
“It is unacceptable for individuals and companies in China, Russia, and elsewhere to enable North Korea to generate income used to develop weapons of mass destruction and destabilize the region,” he said.
According to Politico, the sanctions target three Chinese companies believed to have imported some $500 million in North Korean coal and Russians who have been supplying Pyongyang with oil, among others.

More at: http://oilprice.com/Latest-Energy-Ne...g-N-Korea.html

[goldenequity]

The 'interesting part' was that the 'Chinese' sanctions were 'quietly' expanded to include a Russian component.
Not a 'huge' deal... like 1 Russian company and 4-5 people but I'm sure Moscow took notice.

[Swordsmyth]

A Furious China Responds To Latest Sanctions: Demands "U.S. Immediately Correct Its Mistake" Or Suffer Retaliation

http://www.zerohedge.com/news/2017-0...-its-mistake-o

[Raginfridus]

Sanctions only kill peasants and drive business underground.

[Swordsmyth]

Russia Vows "Inevitable Response" Over "Illegal" North Korea Sanctions

http://www.zerohedge.com/news/2017-08-23/russia-blasts-us-sanctions-illegitimate-promises-imminent-response

[goldenequity]

The U.S. Can Not Be Trusted - Case XXXIV: Trump Cheats On China Sanction Deal
http://www.moonofalabama.org/2017/08...tion-deal.html

[goldenequity]

China helps Venezuela and Iran against unilateral US sanctions
http://theduran.com/china-helps-vene...-us-sanctions/

China walks through the doors the US has left wide open.

In economic warfare, like in traditional battle, one’s weapons are only as powerful as the shields which they are up against.

Venezuela has, after many years of discussion, finally agreed to cease trading its vast oil reserves in the US Dollar.

Venezuela recently announced that it is now pricing its oil in Chinese Yuan.
This comes weeks after China announced that it will allow for the trading of oil contracts in Yuan
which can be easily converted to gold at the exchanges in Shanghai and Hong Kong.

The recent BRICS summit in China, put an increased emphasis on monetary independence among member states.

Already, many Asian and Eurasian countries have begun bilateral trade in local currencies
and both China and Russia have expressed interest in creating new currencies
for trade throughout not only the BRICS bloc but among the wider partners of BRICS, in what is known as the BRICS + format.

Additionally, Russia and China have expressed an interest in creating a BRICS crypto-currency
which if backed by the powerful member states of the bloc,
could result in an inter-continental exchange model that could be Dollar free
for both small retailers and for sovereign trading partners.

It has also been announced that the China’s firm CITIC has opened a credit line with Iran
which will be worth the equivalent of $10 billion.
The credit line will operate in Yuan and Euros, entirely bypassing the Dollar.

All of this has an aggregate effect of the US voluntarily pricing itself out of growing markets.
The growing markets themselves have not felt the sting of sanctions
due to a combination of self-sufficiency
that the US tends to discard as the US is increasingly a non-self reliant nation,
in addition to the overriding fact that China can now provide growing economies with all of the capital they need
and can do so on terms that are generally far more generous than those which could have been offered by the US.

In spite of Donald Trump’s comical Tweets, the North Korea economy is also growing
and much of this is fueled by internal projects.
To this end, North Korea’s proven oil reserves and even its ability to extract and refine this oil
is far greater than the US Treasury Department seems to imply.

Russia, while expanding its economic ties with South Korea,
has also expressed a desire to begin tripartite economic initiatives with both Seoul and Pyongyang.
Not only does this make economic sense,
but it utilizes economic enrichment as a more proven way to de-escalate diplomatic and military tensions
than sanctions have ever accomplished.

In reality, sanctions have never accomplished anything apart from increasing international tensions
with the disastrous added effect of often starving civilian populations of food, medicine and basic amenities.

By contrast, economic investment has been a proven way to create contented countries
which by definition are more at peace with the wider world than those being lectured to and starved.

Now though, the American ability to starve countries is limited
by the fact that China is ready, willing and able to capitalize on any door the US leaves wide open for Beijing.
This is already the case with Venezuela and Iran.
It is only a matter of time and a few likely Russian authored de-escalation agreements
before North Korea also joins the club.

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Pepe Escobar
Iran turns The Art of the Deal upside down
http://www.atimes.com/article/iran-t...-deal-upside//
Tehran busy signing massive infrastructure deals with China's CITIC and European partners