Chinese banks no longer allowed to do business with North Korea

Fox News:
North Korea learned this week Chinese banks will no longer do business with the Hermit Kingdom, in the strongest sign yet pressure from the Trump administration to choke off funding to the rogue nation is working.

Chinese banks received a document Monday stating they should halt financial services and loans to new and existing North Korean customers as a result of strict U.N. sanctions passed earlier this month, a source told Reuters on Thursday.

“Our bank is fulfilling our international obligations and implementing United Nations sanctions against North Korea. As such, we refuse to handle any individual loans connected to North Korea,” the document reportedly said.
...
China's surprising instructions to banks this week, however, were at least partially undermined when South Korea on Thursday approved $8 million in supposed humanitarian aid to North Korea.

Some South Korean officials fear the new aid will send a mixed signal to international leaders. Son Kim-ju, a lawmaker and spokesman of the opposition People’s Party, told The Associated Press the announcement is “badly timed.”
...
The South Korean move makes no sense.  Even if it is humanitarian aid, the aid is very unlikely to ever reach its intended targets because the North Koreans will confiscate it for their elites and their starving troops.

The Chinese move may eventually put more pressure on North Korea.

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