Most of the North Korea funds long frozen in a Macao bank have
been transferred, an official said yesterday, raising the prospect
of an end to the deadlock stalling a nuclear disarmament deal with
Pyongyang.
"Francis Tam confirmed that Banco Delta Asia has remitted a sum
of over US$20 million out of Macao," a Macao government spokesman
said, referring to the special administrative region's secretary
for economy and finance.
He added the bank declined to say where the money was
transferred, citing privacy concerns.
North Korea has refused to honor a February agreement to begin
shutting its Yongbyon nuclear reactor and source of material for
atomic weapons until US$25 million at Macao's Banco Delta Asia are
released through normal banking channels.
The funds were blocked after the US blacklisted Banco Delta
Asia, accusing it of laundering illicit funds for Pyongyang.
Japan's Kyodo news agency, citing Macao financial authorities,
said the funds were expected to be transferred through the New York
branch of the Federal Reserve and Russia's central bank to a
Russian bank where North Korea holds accounts.
Russia said on Wednesday it would allow one of its banks to
transfer the US$25 million, provided Washington gave written
guarantees that it would not fall foul of US sanctions against
Pyongyang.
(China Daily June 15, 2007)
