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BEIJING - North Korean money frozen in a Macau bank will be released into a Chinese bank and turned over to Pyongyang for humanitarian use, a US official said today before nuclear disarmament talks resumed in Beijing.
US Treasury official Daniel Glaser announced the bank moves before six-party talks aimed at ending North Korea's nuclear weapons programme resumed to push forward a Feb. 13 agreement.
The bank dispute had threatened to upset the talks which bring together North and South Korea, the United States, China, Japan and Russia.
As part of the February deal, Washington agreed to resolve within 30 days Pyongyang's complaints about the US crackdown on North Korean funds in Macau's Banco Delta Asia bank, which the United States said were from illicit business.
"The United States and North Korean government have reached an understanding on the disposition of DPRK-related funds frozen at Banco Delta Asia," a statement issued by US officials said.
The statement said that North Korea wanted the US$25 million ($36.47 million) or so frozen in BDA moved into an account at the Bank of China in Beijing.
Glaser said that the money returned to North Korea would be used for benign purposes. "We have assurances the funds are going to be transferred to a bank in Beijing to be used for humanitarian and educational purposes," Glaser said.
- REUTERS
