India imposes fresh restrictions on trade with North Korea

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New Delhi: India on Wednesday imposed fresh restrictions on trade with North Korea in line with the restrictions imposed by the United Nations, Directorate General of Foreign Trade (DGFT) said.
As per a notification of the DGFT in the commerce ministry, “supply, sale, transfer or export” of crude oil will be subjected to the restrictions imposed by the UN Security Council (UNSC).
The trade restrictions on helicopters has now also been extended to new or used vessels.
North Korea is facing sanctions for pursuing its nuclear program from the UN and the US. New restrictions have been imposed on import of food and agricultural products, electrical equipment and stone, among others from North Korea.
The bilateral trade between India and North Korea declined to $133.43 million in 2016-17 from $198.78 million in the previous fiscal.

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