China closes bank account from North
BEIJING — China's largest state-owned bank has closed the account of a North Korean bank accused of funding the North's weapons programs in an apparent sign of Beijing's growing frustration with its ally.
The Bank of China announced on Tuesday that it suspended all transactions by the North Korean Foreign Trade Bank. It did not say how much money was in the accounts or when the action had taken place.
The U.S. Treasury this year called the Foreign Trade Bank a “key financial node” in helping the North Korean regime finance its development of missiles and nuclear weapons.
For years, North Korea has done most of its banking through neighboring China. The suspension of its accounts by Bank of China could lead other banks in the region to reconsider their relationship with the increasingly isolated regime in Pyongyang.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Putin’s stance on Ukraine is bad for business, Russian billionaires say
- Rebels in Ukraine hand over bodies, black box
- Israeli death toll climbs to 25 in Gaza ground offensive
- Chinese lunar rover not dead yet
- Philippine leader hit with impeachment complaint over stimulus plan
- China’s role in Afghanistan called mainly commercial
- Iraqi lawmakers break political deadlock, elect speaker
- 21 killed, more than 100 injured in Moscow subway derailment; terrorism dismissed as cause
- Typhoon on course to hit Manila
- Suicide bomber strikes in Afghan town market, killing at least 89
- Airstrike hits apartment building in eastern Ukraine, killing 11