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 You are in: Under Secretary for Public Diplomacy and Public Affairs > Bureau of Public Affairs > Bureau of Public Affairs: Press Relations Office > Press Releases (Other) > 2006 > September
Taken Question
Office of the Spokesman
Washington, DC
September 7, 2006
Question Taken at the September 7, 2006 Daily Press Briefing

North Korea: Daedong Credit Bank (Taken Question)

Question: What is U.S. reaction to a British investment company's purchase of North Korea's Daedong Credit Bank? Will it affect trade sanctions imposed by the US?.

Answer: We have seen press reports of a proposed purchase of Daedong Credit Bank by Koryo Asia Ltd. We have no further information at this point.

The U.S. remains concerned about -– and will continue to defend against -- North Korean proliferation and illicit financial activities, including our previously stated concerns about Banco Delta Asia in Macao, which was designated as a primary money-laundering concern under the Patriot Act.

UN Security Council. Resolution 1695 specifically requires that all states exercise vigilance and prevent the transfer of any financial resources in relation to North Korea’s missile and WMD programs.

2006/791


Released on September 7, 2006

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