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Article: Under bank sanctions, North Korea looks to gold exports; America's envoy on North Korea, Christopher Hill, travels Asia this week to reinvigorate talks on nuclear disarmament.(WORLD)
- Article from:
- The Christian Science Monitor
- Article date:
- January 22, 2007
CopyrightCOPYRIGHT 2007 The Christian Science Publishing Society. 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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Byline: Donald Kirk Correspondent of The Christian Science Monitor
SEOUL, SOUTH KOREA -- More than a century after American mining engineers first opened up North Korea's gold mines, a fortune in gold and other metals and minerals offers the prospect for North Korea to ease the pressures of financial sanctions.
The question, however, is whether North Korea can navigate around a US Treasury order that forbids institutions doing business in the United States from dealing with Banco Delta Asia in Macao, the main avenue for North Korean financial dealings.
The Treasury ban, first promulgated in 2002, has effectively frozen the North's efforts to ...