Playing Ping Pong With Pyongyang’s Pecuniary
Vietnam banks ‘shut N Korean accounts’
Vietnamese banks have been forced to shut North Korean accounts in the country as part of a US-led crackdown on overseas financial institutions acting as a repository for Pyongyang’s funds, a leading Korean affairs expert said on Wednesday.
The move comes ahead of Communist Vietnam’s anticipated entry of the World Trade Organisation later this year and follows the signing of bilateral trade agreement with Washington in May.
It is also an indication that the US Treasury’s efforts to limit North Korea’s access to international banking are proving increasingly successful since it moved last September against Macao-based Banco Delta Asia.
…”North Korea’s access to international financial markets is under threat” and the US push was now from Pyongyang’s perspective the biggest barrier to the resumption of six-party talks, Mr Beck said.
It left Pyongyang with a diminishing number of banking options, he said, with Russia “really one of the only countries — perhaps the only country — in the world that is allowing North Korea to bank.”
Wooo, there’s a lot going on behind the curtain. Lucky thing Putin’s there to lend him a ruble every now and then.
It’s enough to drive a dictator to drink.
World Stuff | tree hugging sister | 
August 23, 2006 1:36 pm
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Considering that the NorKs have been caught introducing fake portraits of Ben Franklin into the US money supply, I’d say “sauce for the insane gander,” except that the picture indicates he’s already on the sauce.
But it’ll be harder to buy without his Banque de Ho Chi Min debit card.
Heh. Goodbye rerrow brick road…
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