A number of Chinese banks have also reportedly restricted North Korea financial activities, in compliance with U.N. sanctions, which is rapidly reducing Pyongyang's foreign currency reserves.

There are concerns that China, Russia and other counties are illicitly bolstering the North Korean economy through the smuggling of banned commodities, along with arms and chemical weapons sales, and cyber attacks.

Portions of a confidential United Nations report that was recently made public said North Korea earned close to $200 million from exporting coal and other banned commodities last year by using false documents and complicit foreign companies in China, Malaysia, Russia and Vietnam.

While Beijing and Moscow voted in favor of imposing tough sanctions on North Korea in the Security Council, both also want to maintain economic and political stability on the Korean Peninsula, and have called for increased negotiations to peacefully resolve the nuclear stand-off.

There have been reports that Russia is becoming a new transit hub for banned North Korean coal to compensate for the export ban in China. Moscow and Pyongyang have denied these illicit coal trade accusations. Even if true, Russia accounts for only 2 percent of North Korea's trade.

In recent months Japan also reported four suspected illegal transfers at sea between sanctioned North Korean vessels and international ships that were witnessed by surveillance aircraft.

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