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14 Jun, 2007 13:42

N. Korea gets frozen funds back

More than $US 20 MLN of disputed North Korean funds has been transferred from a blacklisted bank in China's Macau. The sum was wired to Pyongyang’s account at a Russian bank in the Far East, according to Macau's Finance Secretary.

Meanwhile, the United States has given Moscow firm guarantees that the receiving bank will not face sanctions.

The North Korean accounts were frozen almost two years ago at the request of the United States, which accused the communist regime of money laundering.

The return of the money is to encourage the communist state to honour its nuclear commitments.