Taiwan Cuts Off Fossil Fuels To North Korea

Tyler Durden's picture

Authored by Zainab Calcuttawala via OilPrice.com,

Taiwan will no longer offer its fossil fuels to North Korea, the island announced on Tuesday in a bid to emerge as a responsible member of the international community.

Taiwan also said it would immediately halt any remaining clothing and textile imports from North Korea, in line with recent economic sanctions against Pyongyang for its missile tests over Japan. Preexisting contracts in force before September 11th would continue to be honored until December 10th, a notice from the economics ministry said.

The bans hope to “denounce North Korea’s recent successive nuclear tests and actions that jeopardize regional security,” the economics ministry said in a statement.

The island is not officially a member of the United Nations apart from Beijing, which insists Taiwan is just one of China’s provinces.

Taiwan and North Korea have seen bilateral trade fall 90 percent in volume in the first six months of this year, compared to the year prior. This is mostly due to the increasing scope of punitive sanctions against Pyongyang in recent months.

Russia and China have previously made a commitment never to support sanctions against Pyongyang that could negatively impact the civilian population, a stance that would almost certainly include a full-scale oil embargo.

Even prior to the new threat of sanctions, North Korea has been increasingly self-sufficient in beginning to tap its still largely unused oil reserves.

However, the country’s political climate, including the sanctions currently in force, and water depths of up to 2,500 meters off the east coast present barriers to development. A shortage of funds is likely to further hamper development.

In the 1990s, North Korea couldn’t provide food for its population, and it continues to struggle to meet the energy demands of its population, generally falling short even in providing electricity to its capital city.

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Schmuck Raker's picture

Not a problem, South Korea will send some on humanitarian grounds.

HRClinton's picture

What fossil fuels does Taiwan even have?

They must have meant knock-offs of Fossil watches.

Manthong's picture

 

So has Taiwan now earned a spot on the Young-un rocket man's nuke hit list?

 

beemasters's picture

More market share for China. Now they are in the position to sell higher to and buy lower from NK and all will be traded in Yuan, bypassing USD.

auricle's picture

Taiwan will no longer directly trade fossil fuels to NK shores. Plenty of ships floating around to pass product between and it is a great big ocean. 

Atomizer's picture

Exactly. North Korea is the diamond of untapped minerals. Twain is brokering through China to purchase dogshit and resell. What a laugh. 

HominyTwin's picture

All for show. If they do "export" fossil fuels to North Korea, they are re-exporting their imported fuel with a nice fee added in. Uncle Sam told them to "Stop that."

swmnguy's picture

This is just Taiwan's small, petty way to irritate China.  Nothing significant at all.

UmbilicalMosqueSweeper's picture

In 2012, Taiwan was producing 22,000 barrels of oil per day. They also have natural gas deposits and gold mines.

aloha_snakbar's picture

Let them eat rockets...

Deep In Vocal Euphoria's picture

don't worry american..the radiation from fukushima is hitting the western shores. it goes in the ground and in the plants...trees....you can't escape it.....it will kill you off one after another.....its already doing it....look at your rotting population.

 

im laughing at you.....keep it up with those bully tactics.........you dont know whats coming.....

Davidduke2000's picture

Bravo, you hit the nail on the head. 

Got The Wrong No's picture

It seems Fat Boy Kim got a ZH posting profile 20 weeks ago. 

USofAzzDownWeGo's picture

America is not run or controlled by the people... it is controlled by a few fucking jews. 

macdavy's picture

the number 42 in oil exports, wow. Kim won't care, he'd boil the fat from children to fuel his rockets if he needs to

Rjh's picture

lol, that's fucking funny +1

Gead's picture

macdavy - there ain't enough fat left in all the kids in North Korea to fuel a bottle rocket.

are we there yet's picture

I want to hear Dennis Rodman's wise and eloquent oratory on his bromance buddy in north Korea.

Davidduke2000's picture

North Korea is an independent country and has the right to have its own nukes, after all the only country that ever used nukes it's the us who is blocking other countries other than israel from having them 

sinbad2's picture

Well of course Americas colonies will do as their master has ordered, but what about the free world?

UmbilicalMosqueSweeper's picture

Middle Earth, with the ants, worms, and Aliens.

Implied Violins's picture

Shit. This is what forced Japan's move on Pearl Harbor in WWII: their gas got cut off. Will we see a repeat?

Winston Churchill's picture

It wasn't just oil.Steel,tin and rubber.All available very nearby.

Kim really doesn't care,its not going to affect him.

The same applies to our leaders as well.

Implied Violins's picture

I guess I should clarify: will this be the false-flag reason provided when North Korea is presented as the patsy for whatever horror our three-letter agencies visit upon American soil very soon?

Someone go visit the passport factory, please, and see if there are any newly pressed ones with North Korean names sitting around.

Got The Wrong No's picture

They will drop one at the seen with a autographed picture of Kim.

cheech_wizard's picture

so long and thanks for all the kim-chi?

Automatic Choke's picture

i'll never thank anybody for kimchee.....

Cozy Vanilla Sugar's picture

I was thinking about this as well. US did push Japan with the oil embargo, but I think Japan attacked the US Navy at Pearl Harbor so the US could not stop its invasion of other SE Asian countries for nat resources. Opportunistic attack that wasn't as effective as hoped since US ships they thought were in Hawaii were out to sea.

NK can't invade SE Asia and they know they're done if they fire a live ICBM.

By the way, is your avatar Newton by Blake? 

Implied Violins's picture

Nope. It's just a picture I found using DuckDuckGo to search for "broken violin pictures".

not dead yet's picture

Doesn't make any difference if the carriers were at Pearl Harbor. They may have been sunk and the war last longer but once they attacked us the whole country was behind the war effort. Although it seemed like a good idea the reality was it was the worst thing the Japanese could have done. The Japanese should have stayed on their side of the pond and invaded the areas that were important to them for the raw materials. If the US was going to try and stop the Japanese in Asia, and they had NOT attacked PH, the plan was to saddle up the fleet and go after them. The prevailing plan was the subs would do the long range scouting and the carrier planes would do the up close and then the battleships would rush in and finish the job. As the Japanese proved the era of the battleship was long gone and air power was the new king along with unresticted sub warfare. Shortly after Pearl the Japanese sunk two British battleships on the high seas with just airplanes. If Pearl Harbor never happened and the US declared war on Japan and went ahead with their obsolete battle plan the US ships would be on the bottom of the sea and the American public screaming hell no to war. As it was Admiral Nagumo really screwed the Japanese when he chickened out and didn't send in the planned second wave to destroy the tank farms, warehouses, and ship repair facilities which were much more important than sinking obsolete relic battleships. It was also Nagumo's bad judgement, and a lot of American luck, that allowed the US to crush the Japanese at Midway. One of the Americn carriers that helped defeat the Japanese at Midway, the Yorktown, was damaged at the Coral Sea battle and was hurriedly repaired at Pearl Harbor and sent on to Midway. If the Japanese had followed through on their plan and destroyed the PH repair facilites the Yorktown would have gone back to the US for repair and never participated in that battle and the outcome a possible Japanese victory instead of a defeat. As it was the Yorktown was sunk at Midway.

Cozy Vanilla Sugar's picture

Hell of a thesis. Thanks for the food for thought.

Davidduke2000's picture

Not to worry, NK gets its own gas from the ground, also China is lying about blocking trade with NK.

UmbilicalMosqueSweeper's picture

Japan would have attacked anyway. Their gig was to occupy the Far East, and the US and UK were in the way. Enjoy your Singapore Sling.

SantaClaws's picture

No worries, NK can fire up its wind turbines and Chevy Volts.  /s

Also have to wonder how many wind turbines Iran has so far.  And Russia?

NoWayJose's picture

Long Chinese smugglers!

land_of_the_few's picture

So basically Taiwan were trading with (kinda China) NK while bad-mouthing China as much as possible in public? That got them lots of Western support presumably? Fantastic, nice gig!

Lost in translation's picture

It's the Taiwanese way.

F China but don't miss the opportunity to make some $ off someone, and who cares if they're shady. Or Red.

But don't sell the house in Newport Beach, and be sure to keep your US passport up-to-date. You know, "just in case."

RawPawg's picture

"Awkward"~Xi Jinping

Trisy's picture

That's very sad to here, it would lee to a crash

HominyTwin's picture

Of which it has exactly zero. In other words, Taiwan won't re-export any of its imported oil to North Korea. A very profitable trade, I'm sure, that they will forego.

directaction's picture

All nations must do exactly as they are told.
Or be bombed.

francis scott falseflag's picture

 

OUCH      

 

sarc/

Robinhood's picture

Wow what a huge surprise!

It's either the usa bitch or the newest state of China. Not so sure they've made the right decision.

Desperate times call for desperate actions 

madashellron's picture

Taiwan being another vassal state of the U.S..

Davidduke2000's picture

Taiwan is not an oil exporter, this story is fake news. it ranks 193 

http://www.indexmundi.com/g/r.aspx?v=95

Grandad Grumps's picture

It seems that the countries around Korea re doing everything they can to make Korea attack them. They could just do business as usual and nothing would EVER happen... but ya can't have that, right?