TribLIVE

| USWorld


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

China closes bank account from North

Daily Photo Galleries

By The Los Angeles Times
Tuesday, May 7, 2013, 8:21 p.m.
 

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

Most-Read World

  1. 111-year-old from Japan recognized as oldest man
  2. Israel, Gaza militants trade fire after talks fail
  3. Iraqi terrorists are Islam’s enemy, Saudi cleric warns
  4. Crisis puts Pakistan army back in game
  5. Afghanistan’s bid for transition tenuous
  6. Kiev attacks on 2 fronts; Poroshenko preps to meet Merkel, Putin
  7. Mideast crisis goes ‘from bad to worse’ as truce shatters
  8. European Union offers to manage Gaza’s border crossings, assure Israel’s security
  9. U.S. decides against rescue of Yazidis with ‘far fewer’ stranded than thought
  10. India’s PM ashamed of rapes
  11. U.S. airstrikes help reverse terrorists’ blitz
Subscribe today! Click here for our subscription offers.