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NYT: Russia Allowed Release of $9 Mln in Frozen N. Korean Assets

Written: 2024-02-07 11:46:27Updated: 2024-02-07 11:53:05

NYT: Russia Allowed Release of $9 Mln in Frozen N. Korean Assets

Photo : YONHAP News

Russia has reportedly allowed the release of millions of dollars in frozen North Korean assets and may be helping the North with access to international banking networks. 

Quoting American-allied intelligence officials, the New York Times reported on Tuesday that Russia allowed the release of nine million dollars out of 30 million dollars in North Korean assets frozen in a Russian bank. 

The officials reportedly said that North Korea intends to use the released funds to purchase crude oil. 

The officials also claimed that a North Korean front company opened an account recently at a different Russian bank in the Georgian breakaway region of South Ossetia, which is seen as evidence that Russia is helping North Korea avoid UN sanctions blocking the North’s access to international financial networks.

These claims come after North Korea transferred weapons to Russia, which is at war with Ukraine. 

The New York Times said that although it is unclear whether Russia provided military technology to North Korea in return, such financial transactions are another sign of the continued development of relations between the two nations.

U.S. authorities reportedly said they could not confirm details of banking-related issues between North Korea and Russia.

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