South Korea Said to Seize Another Vessel Over Oil Transfers
(Bloomberg) -- South Korea is holding another vessel over suspicions it transferred petroleum products to a North Korean vessel -- the second seizure to come to light since President Donald Trump warned China against illicit oil sales to North Korea.
South Korean authorities are investigating a Panamanian vessel over suspicions it transferred oil products to a North Korean ship, Yonhap News reported on Sunday, citing a regional fisheries office. Intelligence and customs officials met regarding the 5,100-ton oil carrier named KOTI on Dec. 21 and decided not to allow it to leave port.
Trump has warned that illicit oil sales to North Korea may jeopardize a peaceful resolution to the confrontation over Kim Jong Un's nuclear weapons and missile programs, though China has denied reports of petroleum sales to North Korea. South Korea seized a Hong Kong-flagged vessel named the Lighthouse Winmore, Yonhap reported on Friday.
South Korea “is closely monitoring the North's movement to evade sanctions, while we are closely discussing with related countries and offices to thoroughly carry out UN Security Council resolutions,” the foreign ministry said in a statement. “As the government is investigating the KOTI case, we cannot confirm details.”
China will uphold the United Nations' authority and status, and fulfill its international duties, Chinese President Xi Jinping said in brief New Year's comments on state television Sunday evening. He added that his country will always be a builder of world peace.
Most of the KOTI's crew members are Chinese and Myanmarese, Yonhap reported. The news agency did not say when or where South Korea seized the vessel. Calls by Bloomberg to the Pyeongtaek fisheries office went unanswered on Sunday.
--With assistance from Gary Gao
To contact Bloomberg News staff for this story: Philip Glamann in Shanghai at pglamann@bloomberg.net, Sohee Kim in Seoul at skim847@bloomberg.net.
To contact the editors responsible for this story: Stanley James at sjames8@bloomberg.net, Philip Glamann, Atul Prakash
©2017 Bloomberg L.P.
With assistance from Philip Glamann, Sohee Kim
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.