Kings Of The East: Putin Unveils Plans To Help North Korea Boost Economy Amid WWIII Tensions

Russia’s President Vladimir Putin has laid out plans to help North Korea boost their economy and vows to build closer ties to Kim Jong-un as World War 3 tensions escalate.

The Russian leader has announced plans to strengthen the trading relationship between Moscow and Pyongyang. Measures proposed by the Kremlin chief includes providing the hermit state with better energy supplies by offering them integration into the Russian electric grid and by piping in gas.

Mr. Putin said the move would be aimed at easing tensions on the Korean peninsula which have increased dramatically over recent weeks, saying: “North Korea needs to be gradually involved in regional cooperation.

Russia has some specific proposals that everyone knows about.

“Implementation of the initiatives will not only have economic benefits but will also contribute to strengthening trust and stability in the Korean Peninsula.

“It is obvious that the Korean Peninsula’s problems cannot be solved only with sanctions and pressure.

“One should not give in to emotion and drive North Korea into a corner.”

Speaking at the Eastern Economic Forum in Vladivostok this week, Putin said that the US and North Korea need to stop their aggressive rhetoric as the only way to move forward is through peaceful negotiations.

He also reaffirmed his stance that Kim Jong-un doesn’t have nuclear weapons and that the idea of them being a global threat is greatly exaggerated. His comments are likely to infuriate Donald Trump, who has urged world leaders to push for further economic sanctions on Kim’s regime.

Bilateral trade between Russia and North Korea has been decreasing for the last four years.

The figure fell from £86million in 2013 to £58.7m in 2016, according to the Russian Federal Customs Service (FCS).

But it more than doubled to £23.9m in the first quarter of 2017 in year-on-year terms, FCS data shows.

Most of Russia’s exports to North Korea are oil, coal and refined products. Russia’s Far East Development Minister Aleksandr Galushka also backed the plans but urged Kim to stop his nuclear tests.

He told reporters: “Our Korean partners seek to develop trade and economic relations. “But we drew their attention to the fact that missile and nuclear activities suppress the opportunity to develop trade and economic ties, severely damage the trade and economic aspect of our relations.

“We asked them to refrain from such actions in the future, as they bring to naught the efforts of the Russia-North Korea intergovernmental commission.”

South Korea’s President said proposals for cooperation between Russia, Seoul, and Pyongyang had been set back by recent tensions.

Moon Jae-in added: “We have arranged to strengthen the base for implementing trilateral projects involving both Koreas and Russia.

“The projects aim at consolidating the Korean Peninsula and Russia’s Far East. “The projects’ implementation did not move forward due to many reasons, including the North Korean problem.”

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