U. S. Commerce Secretary Wilbur Ross praised China’s efforts to pressure on North Korea on Wednesday.
The world’s second-largest economy is « quite serious about living up to the commitments they have made regarding North Korea, » U. S. Commerce Secretary Wilbur Ross said on Wednesday.
The order for Chinese lenders to stop doing business with Pyongyang « is a logical next step in the sanctions, and a very important one, » he continued.
« Chinese commercial banks had been a big route for facilitation of trade to North Korea so the fact that the PBOC has put out a taboo, that’s a very big deal, » Ross said, referring to China’s central bank, or the People’s Bank of China.
Speaking to CNBC’s » Squawk Box, » Ross called the PBOC move « a gigantic step. »
« Assuming that it’s followed through and other parts of the sanctions are followed through, that’s a very good sign, very, very important pressure.
