US: Hitch resolved in North Korea funds standoff

April 6, 2007 19:15


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A hitch stalling the release of frozen North Korean money from an Asian bank has been resolved, which potentially clears the way for a solution to the dispute that has stalled nuclear disarmament talks, the State Department said Friday. After two weeks of talks in Beijing, banking officials from the United States, China, North and South Korea and the Bank of China have agreed on a "technical pathway" for the $25 million (€18.7 million) to be returned to Pyongyang, spokesman Sean McCormack said. "The result has been to identify the technical pathway to return the funds," McCormack told reporters. "We support the release of all the funds. It is now a matter of technical implementation." Previously, US officials had suggested privately that some of the $25 million (€18.7 million) held in the blacklisted and now-shuttered Banco Delta Asia in Macau might be tainted and not released.

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