North Korea receives transfer of $25 million
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- 22 January 2011: Chinese president Hu Jintao visits United States
Location of North Korea
Wednesday, June 20, 2007
US$25 million of North Korean funds previously frozen in a Macau bank has been transferred to Pyongyang, the North Korean capital. The money was released late last week, and transferred from Macau to the Federal Reserve in New York City, and from there to a Russian bank and then into an account controlled by the North Korean government.
Pressure is mounting from the international community on the Pyongyang government to shut down its Yongbyong nuclear reactor. North Korea has been refusing to move forward due to the freezing of these funds in 2005.
Sources
- AFP. "N Korea given money, told to shut N-plant" — The Peninsula, June 20, 2007
- Hiroshi Hiyama. "With banking row over, U.S. urges N. Korea to shut reactor" — The China Post, June 20, 2007
- David Lague. "U.S. says North Korea may begin shutting reactor in weeks" — International Herald Tribune, June 18, 2007
