'Macao to Release NK Funds'
The U.S. Treasury Department says Macao authorities will soon release all North Korean funds held at a bank in the Chinese special administrative region.
Treasury spokeswoman Molly Millerwise said in a statement Tuesday that Washington understands that Macao authorities are prepared to unblock all North Korean-related accounts frozen at Banco Delta Asia.
She added that based on previous discussions with Chinese, Macanese and North Korean officials, as well as an understanding reached with Pyongyang on the use of the funds, the U.S. supports Macao's decision.
The statement, however, did not say when the funds will be released or in what amount.
With the decision, a major obstacle to the North’s implementation of initial steps toward its nuclear disarmament will likely be removed soon.
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