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March 24, 2007

US Treasury Official Dispatched to China Over North Korean Funds
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http://enews.voanews.com/t?ctl=16C79EA:A6F02AD83191E16046966028E06890A19574F7DCC14957C0 Pyongyang refuses
to participate in latest round of six-party nuclear talks until $25
million in funds, frozen at bank in Macau, are returned The United
States says it is sending a top Treasury Department official to China
to help resolve a banking dispute that had stalled nuclear disarmament
talks with North Korea.







Daniel Glaser (file photo)Treasury officials say Daniel Glaser, the
Deputy Assistant Secretary for Terrorist Financing and Financial
Crimes, will travel to Beijing Saturday to help address a frozen bank
payment to North Korea.

Pyongyang refused to participate in the latest round of nuclear talks
this past week until $25 million in funds, frozen at a bank in Macau,
were returned.

The chief U.S. envoy to six-party talks Christopher Hill said Friday
the discussions could resume within a week or two, once the dispute is
resolved.

The funds were frozen in 2005 after Washington accused Macau's Banco
Delta Asia of helping North Korea launder money and commit other
illicit activities.

Earlier this week, U.S. officials said the funds would be released.

It was originally expected the funds would be transferred to a North
Korean account at the state-run Bank of China. However, officials at
that bank have yet to accept the money.

North Korea agreed last month to close its main nuclear reactor, allow
inspectors in the country, and disclose all of its nuclear programs.
In exchange, Pyongyang was promised energy aid and diplomatic
incentives.

Some information for this report was provided by AP, AFP and Reuters