Developing: North Korea Funds Being Wired out of BDA

by Richardson ~ May 15th, 2007. Filed under: Diplomacy, Engagement, Six-Party Talks.

Only a month and five days after their funds were unfrozen (10 April) at Banco Delta Asia (BDA), North Korea has found a new bank – in the obligatory “third country” – willing to accept its tainted funds:

North Korea said on Tuesday it may soon receive the frozen funds it demanded be returned before it would start to shut down its nuclear reactor, source of its weapons-grade plutonium.

“Currently, a process is ongoing to wire the funds in Macau’s Banco Delta Asia to our bank account in a third country… If the money transfer has been completed, we will immediately take steps to close nuclear facilities as agreed upon under the February 13 deal,” the North Korean [KCNA] spokesman said.

The time needed for North Korea to shutdown and seal the reactor ranges anywhere from a few days to a few weeks, depending on how far they go (e.g., just shutting down the reactor and sealing that vs. removing, storing, and sealing the fuel rods as well, or somewhere in-between).

3 Responses to Developing: North Korea Funds Being Wired out of BDA

  1. Gerry

    No word as to what that third world bank might be?

  2. Richardson

    I’ve been watching, but nothing yet. As soon as more is known I’ll post on it.

  3. State Dept Asks Wachovia to Move Tainted DPRK Funds at DPRK Studies

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