North Korea earned nearly USD 200 million in revenue last year by exporting the banned commodities in violation of sanctions imposed by the United Nations.
Pyongyang was able to sell coal, steel, iron and petroleum products between January and September to multiple countries including Russia, China, Malaysia, South Korea and Vietnam, despite UN sanctions barring their export, according to several media reports which quoted a confidential report by independent U.N. monitors.
North Korea's economy has been heavily reliant on Beijing-$2.3 million of the $2.83 billion total exports were shipped to China in 2015
The document, which was submitted to the UN Security Council, also stated that the rogue nation had been providing weapons to Syria and Myanmar.
North Korea had flouted UN financial sanctions through "deceptive practices" and engaged in "widespread conventional arms deals and cyber operations to steal military secrets," according to the 213-page report seen by several media outlets.
North Korea has been developing nuclear weapons and sophisticated long-range missiles. Multiple sanctions dating back to 2006 have tried to choke off funding for the nuclear and missile programs.
The United States pushed for tough economic sanctions against the reclusive nation after its sixth nuclear test and a series of ballistic missile launches.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
