Treasury Hits Russian Banks?
And it’s also accusing Russia of assisting in North Korean proliferation
Scandal
The American Center for Nonproliferation Studies released a report yesterday claiming that North Korean authorities, with the help of private Russian companies, are providing ballistic missile to third countries, Iran, Syria and Pakistan in particular. This information comes at the same time as a scandal is unfolding over the North Korean regime’s transfer of a considerable part of its bank accounts to Russia, skirting American sanctions. Although these accusations are only coming from NGOs right now, they may become the case of the next strain in Russian-American relations.
Pyongyang’s Money
Peter Beck, head of the authoritative international NGO International Crisis Group told Kommersant yesterday that Russia is “the last financial refuge for the People’s Democratic Republic of Korea.” He added that the United States sees “a high degree of likelihood” in that charge, given Moscow’s disinterest in overthrowing the North Korean regime. “I am certain that Washington will soon begin to apply the appropriate pressure on Moscow,” Beck added.
It is a serious accusation, considering that only the Central Bank of Russia could work with Pyongyang in the financial sphere. “Like any Russian bank, we can only open accounts for residents,” Kommersant was told in a state bank. “In that connection, the suggestion of a possible transfer of North Korean government or state company accounts to a Russian bank is absurd, to say the least.” North Korea could, however, use the accounts of its embassy in Moscow to transfer money. In that case, the money would be in Vneshtorgbank, which traditionally services the diplomatic missions in Moscow. Vneshtorgbank refused to comment on that suggestion yesterday.
“The information you want to receive is in the category of client information. We do not provide that information, regardless of whether have such a legal entity among our clients or not,” Vneshtorgbank senior vice president Vasily Titov told the newspaper yesterday.











