North Korea receives transfer of $25 million

June 20, 2007

25 million of North Korean funds previously frozen in a Macau bank has been transferred to, the North Korean capital. The money was released late last week, and transferred from Macau to the in, and from there to a Russian bank and then into an account controlled by the North Korean government.

Pressure is mounting from the international community on the Pyongyang government to shut down its Yongbyong nuclear reactor. North Korea has been refusing to move forward due to the freezing of these funds in 2005.