US: N Korea bank dispute resolved

Frozen $25m to be moved from Macau to China account for humanitarian use.

    The US says North Korea's $25m will be transferred from Macau to a Chinese bank account [AFP]
    The North Korean deposits have been frozen in Banco Delta since Washington blacklisted the small, privately run Macau-based bank 19 months ago on suspicion that the funds were connected to money-laundering or counterfeiting.
     
    Washington had promised to resolve the issue by mid-March as part of an agreement last month on North Korea's nuclear disarmament.
     
    On Saturday, North Korea's nuclear envoy said that Pyongyang would not shut down its main nuclear reactor until the funds were released.
     
    Nuclear pact
     
    The long-running six-party talks reached a breakthrough accord on February 13, giving North Korea 60 days to shut the Yongbyon reactor and allow in international inspectors in return for aid and security pledges.
     
    Your Views

    Negotiators from the two countries, along with South Korea, Japan, Russia and host China are expected to resume discussions on Monday at Beijing's Diaoyutai State Guesthouse to hammer out details to February's agreement.
     
    Diplomats said talks to shut the North's Yongbyon nuclear reactor were going smoothly after working group meetings over the weekend.
     
    The chief US envoy to six-party talks said on Sunday that North Korea was on track to fulfil its side of the disarmament deal by shutting down its main atomic facility next month.
     
    Christopher Hill said: "I think we are on schedule for the shutdown of the facilities and monitoring by the IAEA."

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    How different voting systems work around the world

    How different voting systems work around the world

    Nearly two billion voters in 52 countries around the world will head to the polls this year to elect their leaders.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    The peace games: Dreaming big for South Sudan's youth

    The peace games: Dreaming big for South Sudan's youth

    A relatively new independence and fresh waves of conflict inspire a South Sudanese refugee to build antiwar video games.