North Korea fund transfer stalled
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Technical problems prevent the transfer of N Korean funds previously frozen in a Macau bank, US officials say.
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Russia expects to complete the transfer of $25 million in unfrozen North Korean funds on Monday, Interfax news agency quoted a Russian government source as saying on Friday.
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North Korea today took possession of about $25 million in funds previously frozen by a Treasury Department investigation, potentially clearing the way for Pyongyang to fulfill its commitment to shut down an aging nuclear reactor.
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U.S. nuclear envoy Christopher Hill said Monday a stalled process to shut down Pyongyang's nuclear program could resume within weeks now that a dispute over the transfer of North Korean funds is over.
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The long-delayed transfer of blacklisted North Korean assets from a Macau bank will begin Thursday, a report said, amid hopes of resolving the dispute which has held up a nuclear disarmament deal.
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The United States and Russia are working on a plan to transfer $25 million in once frozen North Korean funds held at an Asian bank, a move aimed at reviving stalled nuclear disarmament efforts.
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Money transfer agencies have delayed or blocked thousands of cash deliveries on suspicion of terrorist connections simply because senders or recipients have names like Mohammed or Ahmed, company officials said.
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Talks on North Korea's nuclear programme will enter a fourth day on Sunday with a deal still elusive.
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The banking dispute holding up a North Korean nuclear weapons deal looked on Friday to be almost resolved but few expected it to prompt the hermit state to actually start dismantling its atomic armory any time soon.
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Prospects for an initial agreement on ending North Korea's nuclear arms program were clouded on Sunday as talks entered a fourth day without an accord on how to compensate Pyongyang for moving to disarm.
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China has been the financier keeping the U.S.  government well funded, but the rate of increase of its holdings of dollar-based securities seems to have slowed.
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The transfer of N Korean funds frozen in Macau, a key issue in nuclear talks, will soon begin, media says.
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Talks on the future of North Korea's nuclear arms program entered a fifth day on Monday with negotiators scrambling for progress after Pyongyang's demands for energy compensation were rejected.
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US equity fund Newbridge Capital Ltd., which is selling Korea First Bank, yesterday postponed its anouncement of a preferred bidder, indicating that it is having difficulty setting the sale price with HSBC Holdings Plc and Standard Chartered Plc.
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The path to disarming North Korea of its  nuclear weapons will prove much harder than clearing a deadlock  over its funds that took nearly two years, South Korea&#39;s chief  nuclear envoy was quoted as saying on Friday.
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A complex series of negotiations, spurred by the Treasury Department, results in $25 million being transferred to North Korea from a small bank in Macao.
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BEIJING -- A last-minute snag yesterday over the amount and timing of assistance to North Korea dampened hopes at six-nation talks for a landmark deal aimed at locking Pyongyang into firm steps toward nuclear disarmament.