Sanctions and financial payment restrictions affect bilateral trade
The trade turnover between Russia and North Korea has been contracting and this trend is likely to continue in 2018, Russian ambassador to North Korea Alexander Matsegora said as quoted by Prime. He explained that trade is affected by the UN sanctions on North Korea. He elaborated that sanctions do not completely ban trade with North Korea but limit the product range and restricted legal payment possibilities.
In August 2017 the U.N. Security Council responded to the ballistic missile tests in North Korea by banning exports of iron, iron ore, lead, coal and seafood from the country, and freezes its Foreign Trade Bank's accounts, Prime recalled.
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