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. Last Updated: 07/27/2016

North Korea Gives Bank $25M

A Russian bank has received $25 million of North Korean funds which had been frozen in a Macau bank account, removing an obstacle to a deal over North Korea's nuclear program, Russia's Foreign Ministry said on Saturday.

"At this time the transfer of North Korean money from Macau to a Russian commercial bank has been completed," Foreign Ministry spokesman Mikhail Kamynin said in a statement.

Authorities in Macau had frozen the funds after a U.S. Department of the Treasury investigation into money laundering. North Korea demanded the money be released before it would implement a disarmament deal.

Russian news agencies quoted an unnamed Finance Ministry official as saying Dalkombank had taken delivery of the funds.