China closes down North Korean bank account

LA Times ^ | May 7, 2013, 9:41 a.m. | By Barbara Demick

[Red Badger]

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 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.

[Red Badger]

They are finally jerking the jerk's chain........

[elpadre]

NK and China are joined at the hip - there must be more to this

[VAFreedom]

they make deposit with 50% north korean printed fake $100 us bills anyway.

[UCANSEE2]

Possibly Lil’Kim has been skimming off the account.

[elhombrelibre]

This is a big, big deal.

[Spruce]

Daddy finally taking away petulant little brat’s credit card.

[caww]

You're right...and no doubt funds are small that remain in that account...most transfered otherwise. Kim has more than one account...something written about that a few months ago. So he's not going to hurt any. I believe this is a political move...you do this we'll do that sorta thing...among those who are making deals outside of N.Korea's leadership.