North Korea receives transfer of $25 million
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<noinclude> US$25 million of North Korean funds previously frozen in a Macau bank has been transferred to Pyongyang, the North Korean capital. The money was released late last week, and transferred from Macau to the Federal Reserve in New York City, and from there to a Russian bank and then into an account controlled by the North Korean government. Pressure is mounting from the international community on the Pyongyang government to shut down its Yongbyong nuclear reactor. North Korea has been refusing to move forward due to the freezing of
<noinclude>
US$25 million of North Korean funds previously frozen in a Macau bank has been transferred to Pyongyang, the North Korean capital. The money was released late last week, and transferred from Macau to the Federal Reserve in New York City, and from there to a Russian bank and then into an account controlled by the North Korean government.
Pressure is mounting from the international community on the Pyongyang government to shut down its Yongbyong nuclear reactor. North Korea has been refusing to move forward due to the freezing of these funds in 2005.
Sources & reporting note
Licensed archive reporting by Wikinews contributors. Text: CC BY 2.5 (https://creativecommons.org/licenses/by/2.5/). Original source date retained. 411 has not independently verified this archive report.
Read the source: Wikinews ↗Source published 20 Jun 2007, 05:30 am IST
