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Article: North Korea sells gold to earn currency.
- Article from:
- Yomiuri Shimbun
- Article date:
- December 26, 2006
CopyrightCOPYRIGHT 2006 The Yomiuri Shimbun. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dec. 26--TOKYO -- After the United States imposed financial sanctions against North Korea in September last year, Pyongyang started selling bullion on the international market as an alternative way to acquire foreign currencies, it has been learned.
In September last year, the U.S. government froze North Korea-related accounts at Macao-based Banco Delta Asia. After that, Pyongyang reentered the London Bullion Market and has exported bullion worth about $28 million, or 3.3 billion yen, to Thailand, sources said.
In addition to Banco Delta Asia, many North Korea-related accounts at other banks have been frozen, and Pyongyang now actively engages in the ...