N. Korea seeks to move funds
North Korea has asked Macao authorities to transfer its funds there to financial institutions in Russia and Italy, possibly clearing the way for Pyongyang to fulfill its nuclear disarmament obligations, Japanese media said today.
North Korea missed the April 14 deadline to shut down its main reactor as agreed under a February deal with the United States and four other nations. The government in Pyongyang cited a failure to release its funds at Macao-based Banco Delta Asia.
North Korea had made shutting down the reactor contingent on the release of the money, frozen after the United States blacklisted the bank, where Pyongyang had 52 accounts allegedly linked to money laundering and counterfeiting.
The $25 million was freed for withdrawal this month, but has not been moved.
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