N Korea confirms funds transfer

**Adam** · 25th June 2007, 01:09 AM

N Korea has pledged to shut down its main reactor at Yongbyon

North Korea has confirmed it has received some $25m (£12.5m) of its funds following a row that had hindered progress on a nuclear disarmament deal.

The foreign ministry said in a statement: "The issue of the frozen funds has finally been settled."

Pyongyang also said it would begin implementing a deal to shut down and seal its main nuclear reactor.

And it confirmed that a team from the UN's nuclear watchdog would visit on Tuesday, to discuss the process.

Washington's chief nuclear negotiator, Christopher Hill, said at the weekend that Pyongyang had agreed to shut down the reactor within three weeks.

Visit

The statement from the North Korean foreign ministry came through the official state media.

The funds "have finally been transferred according to our demand," the Korean Central News Agency quoted the statement as saying.

Earlier, the Russian Dalkombank - which had acted as intermediary over the transfer - confirmed the money had been sent to North Korea on Monday.

N KOREA NUCLEAR DEAL

N Korea to "shut down and seal" Yongbyon reactor, then disable all nuclear facilities
In return, will be given 1m tons of heavy fuel oil
N Korea to invite IAEA back to monitor deal
Under earlier 2005 deal, N Korea agreed to end nuclear programme and return to non-proliferation treaty
N Korea's demand for light water reactor to be discussed at "appropriate time"

Q&A: The bank row

"Therefore the problem of the funds transfer has been solved," the bank said.

The money was frozen for nearly two years in a Macau bank after the US said it had been gained through drug smuggling and counterfeiting.

The block on the money was lifted after North Korea agreed last February to "shut down and seal" its Yongbyon reactor in return for aid.

But the transfer of the money had been held up because of concerns within the international banking community about handling the funds.

The team from the International Atomic Energy Agency (IAEA) arrived in Beijing on Monday en route to Pyongyang for the five-day visit.

The head of the team, Olli Heinonen, said they would be discussing how to verify the closure of Yongbyon.

It will be the first time the IAEA has visited the country since inspectors were forced to leave in 2002.

**kingtony** · 25th June 2007, 06:20 AM

wow 25m is not alot at all talk about a poor country

**Adri** · 25th June 2007, 09:16 AM

Now I wonder when he will go right back to what they were doing, braking the deal.

**kingtony** · 25th June 2007, 09:18 AM

Right After The Ink Dries

25th June 2007, 01:09 AM	#1
Adam Lead Administrator Owner Join Date: Oct 1990 Posts: 6,014 Gold: 66,477 Thanks: 49 Thanked 571 Times in 187 Posts	N Korea confirms funds transfer N Korea confirms funds transfer N Korea has pledged to shut down its main reactor at Yongbyon North Korea has confirmed it has received some $25m (£12.5m) of its funds following a row that had hindered progress on a nuclear disarmament deal. The foreign ministry said in a statement: "The issue of the frozen funds has finally been settled." Pyongyang also said it would begin implementing a deal to shut down and seal its main nuclear reactor. And it confirmed that a team from the UN's nuclear watchdog would visit on Tuesday, to discuss the process. Washington's chief nuclear negotiator, Christopher Hill, said at the weekend that Pyongyang had agreed to shut down the reactor within three weeks. Visit The statement from the North Korean foreign ministry came through the official state media. The funds "have finally been transferred according to our demand," the Korean Central News Agency quoted the statement as saying. Earlier, the Russian Dalkombank - which had acted as intermediary over the transfer - confirmed the money had been sent to North Korea on Monday. N KOREA NUCLEAR DEAL N Korea to "shut down and seal" Yongbyon reactor, then disable all nuclear facilities In return, will be given 1m tons of heavy fuel oil N Korea to invite IAEA back to monitor deal Under earlier 2005 deal, N Korea agreed to end nuclear programme and return to non-proliferation treaty N Korea's demand for light water reactor to be discussed at "appropriate time" Q&A: The bank row "Therefore the problem of the funds transfer has been solved," the bank said. The money was frozen for nearly two years in a Macau bank after the US said it had been gained through drug smuggling and counterfeiting. The block on the money was lifted after North Korea agreed last February to "shut down and seal" its Yongbyon reactor in return for aid. But the transfer of the money had been held up because of concerns within the international banking community about handling the funds. The team from the International Atomic Energy Agency (IAEA) arrived in Beijing on Monday en route to Pyongyang for the five-day visit. The head of the team, Olli Heinonen, said they would be discussing how to verify the closure of Yongbyon. It will be the first time the IAEA has visited the country since inspectors were forced to leave in 2002. Get your own personal forum Like these ones - Personal forum listing Bored @ work? Play in our arcade! Useful Tips on how to use UOForums Open your own blog

25th June 2007, 06:20 AM	#2
kingtony How do you tell when you run out of invisible ink? Join Date: Jan 2007 Shard: alantic Posts: 2,663 Gold: 94 Thanks: 0 Thanked 1 Time in 1 Post	Re: N Korea confirms funds transfer wow 25m is not alot at all talk about a poor country

25th June 2007, 09:16 AM	#3
Adri Wearing metal panties in a lightning storm Join Date: May 2004 Shard: Pacific/Landroval Posts: 3,748 Gold: 634 My Mood: Thanks: 139 Thanked 71 Times in 49 Posts Awards Showcase Total Awards: 2	Re: N Korea confirms funds transfer Now I wonder when he will go right back to what they were doing, braking the deal. We are all broken and wounded in this world. Some choose to grow strong at the broken places. --Harold J. Duarte-Bernhardt Thanks to Atlas for the fantastic sig!

25th June 2007, 09:18 AM	#4
kingtony How do you tell when you run out of invisible ink? Join Date: Jan 2007 Shard: alantic Posts: 2,663 Gold: 94 Thanks: 0 Thanked 1 Time in 1 Post	Re: N Korea confirms funds transfer Right After The Ink Dries

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