WASHINGTON, March 27 (UPI) -- Delays in the return of North Korean funds frozen in a Macao bank should be resolved "in two or three days," according to U.S. Ambassador Chris Hill.
Hill, the chief U.S. negotiator at the six-party talks in Beijing over North Korea's nuclear program, made his remarks Monday at a Georgetown University conference upon his return from the Chinese capital.
The six-way talks stalled recently when North Korea's envoy, Kim Kye Gwan, quit and returned to Pyongyang until the funds, some $25 million, were freed. The accounts had been frozen as a result of U.S. Treasury sanctions because of their suspected connection to counterfeiting and money laundering.
Hill said he had spoken to U.S. Treasury point man Daniel Glaser that day. Glaser was meeting in Beijing with Chinese Foreign Ministry officials and banking regulators, as well as North Korean representatives, to resolve the issue. The accounts would then be transferred from Macao's Banco Delta Asia to the Bank of China.
"Assuming the Banco Delta Asia matter is settled, the first phase of the Feb. 13 agreement should be implemented," said Hill. Under the agreement, North Korea would shut down its nuclear reactor at Yongbyon and allow the return of International Atomic Energy Agency inspectors in return for 50,000 tons of fuel oil.
Hill said his talks with the North Koreans gave every indication that they would deliver on this part of the agreement. They have already conducted preliminary talks with the IAEA about inspections.
"The second phase (of the Feb. 13 agreement) will make very clear where the North Koreans stand," Hill added.
