U.S., N. Korea to resume financial talks on Jan 30
26 Jan 2007 18:10:13 GMT Source: Reuters
By David Lawder WASHINGTON, Jan 26 (Reuters) - U.S. officials will resume talks with their North Korean counterparts over U.S. financial curbs against Pyongyang on Jan. 30 in Beijing, a Treasury Department spokeswoman said on Friday. The talks are expected to focus on frozen North Korean accounts at Macau's Banco Delta Asia, which the U.S. Treasury has labeled a "primary money-laundering concern" for its role in aiding North Korea's illicit financing activities. Leading the U.S. delegation to the talks in Beijing will be Daniel Glaser, deputy assistant Treasury secretary for terrorist financing and financial crimes, said Treasury spokeswoman Molly Millerwise. Other U.S. agencies expected to participate in the so-called Financial Working Group include the State Department and the Secret Service. The Commerce Department on Friday banned exports of certain luxury goods to North Korea, including jet skis, iPods and fancy cars, but that action was taken under the authority of U.N. trade sanctions following North Korea's nuclear test in October. The financial talks in Beijing will focus on actions taken by the Treasury, which has demanded that North Korea halt what is says are illicit financing activities, including manufacturing and distributing counterfeit U.S. currency and engaging in illegal drug and tobacco trade. "Glaser plans to continue discussions with North Korea on the international community's concerns about illicit financial conduct, globally-recognized standards for operating as a responsible member of the financial community, and the financial measures taken by the United States to combat illicit financial flows," Treasury spokeswoman Molly Millerwise said in a statement. The planned Beijing talks follow a previous round of discussions in December that ran parallel to six-nation talks over North Korea's nuclear program. In those discussions, however, the North Koreans insisted that its accounts at Banco Delta Asia be restored and held up progress in nuclear talks over the issue. The U.S. designation of the bank in September 2005 largely cut North Korea out of the international financial system. In recent weeks, however, some U.S. officials have signaled that the Bush administration was inclined to find a solution to the dispute over Banco Delta Asia. These officials told Reuters last week that the Treasury was scrutinizing the $24 million in the frozen North Korean accounts top see if some of the funds could be considered legitimate and released to Pyongyang.
