China, Russia Propose Lifting North Korea Sanctions

'Dotun Akintomide
Writer

Ad

$4.5bn: Court Admits More Evidence Against Emefiele

Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on October 9,2025, admitted more evidence against a former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in an alleged $4.5bn fraud. Emefiele is standing trial on a 19-count charge bordering on receiving gratification and corrupt demand preferred against him by…

NEITI Warns of Deepening Transparency Crisis, Says Nigeria Lost $3.3bn to Oil theft, Sabotage

By Obinna Uballa Nigeria lost an estimated 13.5 million barrels of crude oil valued at $3.3 billion to theft and pipeline sabotage between 2023 and 2024, the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. Executive Secretary of NEITI, Dr. Ogbonnaya Orji, disclosed this on Thursday at the 2025 Association of Energy Correspondents of Nigeria…

Oil Eases over 1.5% after Gaza ceasefire

Summary Israel and Hamas agree to Gaza ceasefire, return of hostages US oil product supplied highest since December 2022, EIA says Stalled peace talks in Ukraine underpin prices Oil prices edged slightly lower on Thursday after Israel and the Palestinian militant group Hamas signed an agreement to cease fire in Gaza. Brent crude futures were…

Ad

China and Russia have  proposed relaxing UN sanctions against North Korea’s ailing economy amid concerns that US-led negotiations with the hermit nation have gained little traction, reported Anadolu Agency.

According to media reports, Beijing and Moscow shared a draft UN resolution at the Security Council on lifting bans on North Korea exporting seafood and textiles and exempting inter-Korean rail and road-building projects from sanctions.

The document also calls for the resumption of so-called “six-party talks” – a negotiation format towards denuclearisation that brought together the two Koreas, China, Russia, Japan and the US, according to reports.

Diplomats on the 15-nation Security Council were expected to discuss the draft document this week, though it remained unclear whether it would be acceptable to Western members, who have taken a strong stand against Pyongyang’s nuclear arms programme.

In order to pass, a draft Security Council resolution needs nine votes in favor and no vetoes from any of the chamber’s five permanent members – the US, France, Britain, Russia and China.

North Korea has been subject to UN sanctions over its nuclear and ballistic missile programmes since 2006. The US, Britain and France say that sanctions should remain in place until Pyongyang scraps its prohibited work.

Since becoming US president in 2017, Donald Trump has met with North Korean leader Kim Jong-un three times in a bid to persuade him to give up his nuclear and missile programmes. But talks have stalled and Kim has given Trump until the end of the year to make concessions.

North Korea has carried out 13 ballistic missile launches since May. Analysts and diplomats worry that Pyongyang could next year resume the nuclear and long-range missile testing that was suspended in 2017.

As well as its test ballistic missile launches, Pyongyang this month publicised a “very important test” at a long-range rocket launch site that analysts say may have been an engine for a space vehicle or a long-range missile.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp