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Article: U.S. Ready to Release N. Korean Assets
- Article from:
- AP Online
- Article date:
- March 3, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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WASHINGTON - The United States will soon recommend releasing a significant amount of frozen North Korean bank accounts, officials say, which diplomats hope will keep North Korea from reneging on its pledge to scrap nuclear weapons.
The Treasury Department could announce as soon as next week that several million dollars connected to North Korea are not tainted by links to rogue nuclear proliferation or allegations of counterfeiting, smuggling and other crimes.
The U.S. move is expected to prompt overseas bank regulators to unfreeze between $8 million and $12 million from about $24 million in blocked assets, one official said.
Treasury and State Department officials spoke on condition of ...