US to Unfreeze North Korean Bank Accounts?
I really hope not:
South Korea recently asked the U.S. to consider selectively unfreezing at least five of North Korea’s 50 accounts with the Macau-based Banco Delta Asia, saying part of the US$24 million North Korean accounts were acquired legitimately, it emerged Monday. The issue has been the main sticking point in international efforts to resolve the North Korean nuclear crisis.
A U.S. official on Monday confirmed a Yonhap report that a senior official from Seoul explained the five accounts in detail to John Negroponte, the director of National Intelligence and deputy secretary of state-designate. As the man in charge of intelligence, Negroponte is hardly the standard diplomatic channel in the State Department. The U.S. official did not reveal who the Korean official was, but strongly hinted he was among a group who recently visited the U.S.
I have to wonder what the US will get in return for doing this? If the US negotiators think this will lead to any breakthroughs in the nuclear talks I think they will be disappointed. The only way I see the North Koreans working out a deal is if they do not have as much nuclear material to base a nuclear program around as everyone believes.Â
First of all, US gov does not have power over foreign bank like Macau-based Banco Delta Asia. All USG did was to tell BDA that they can not do business with US bank if they continue to do business with DPRK who produce $100 supernotes. BDA choose to keep in good relation with USG by freezing the DPRK account. It was good business choice for BDA to stay in business in the international financial market.
[…] see the North Koreans counterfeit our money and then we agree to launder the $25 million dollars worth of money for them and give them access to the world financial system in return for them to […]