North Korean funds released

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Friday, June 15, 2007

The Democratic People's Republic of Korea (DPRK) has received US$25,000,000 frozen in 2005 as part of the general crackdown on the communist state.

The funds had been frozen in a Macau bank after the United States earlier alleged that the money was gained from activities including money laundering and counterfeiting.

The DPRK had demanded return of the money as a precondition to engaging in the six-party talks. In February, the U.S. agreed to allow North Korea to retrieve their funds.

Sources

Tom Mitchell and Neil Buckley. "Freeze ends on North Korean depositors' cash" — Financial Times, June 15 2007
Agencies. "Eyes on N Korea after cash transfer" — Al Jazeera, June 15, 2007
Staff. "Japan calls on N Korea to shut reactor" — Keralanext.com, June 15, 2007

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