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MOSCOW - North Korean funds at the heart of a dispute that held up a nuclear disarmament deal were transferred to North Korea's Foreign Trade bank, a Russian bank which acted as an intermediary said Monday.
"On June 25, the said funds were put on the account of North Korea's Foreign Trade Bank. So as of now the problem of the fund transfer is fully resolved," the Dalcombank said in a statement published on its official website.
"Dalcombank voices hope that this operation will contribute to the fastest possible resolution of the problem of North Korea's nuclear disarmament, help dispel tensions on the Korean peninsula and strengthen North Korea's cooperation with the international community," the bank said.
The funds, believed to total between 20 and 25 million dollars, were frozen by the United States at the Banco Delta Asia in the Chinese territory of Macau in 2005 on suspicion of money-laundering and counterfeiting.
"The operation was preceded by high-level negotiations which included Russia's foreign ministry, finance ministry and Bank of Russia, as well as an exchange of notes with the US embassy in Moscow which detailed the US government's obligation not to take any legal steps against any of the Russian sides" participating in the transfer, the statement read.
"Once these documents were received, Dalcombank took all necessary steps to ensure that the transaction be complete as soon as possible," the bank said.
Russia offered to unblock the funds as part of international diplomatic efforts to encourage North Korea to shut down its nuclear reactor and allow a visit by UN nuclear inspectors.
North Korea had refused to comply with an agreement struck in February with China, Japan, Russia, South Korea and the United States to shut down its nuclear reactor until it received the money. - AFP/ir
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