[USFK Forums] N. compromise on N. Korea financial sanctions: Bush [AFP]

[C. Y. Lee]

Uploaded by C. Y. Lee on Friday, January 27, 2006

No compromise on North Korea financial sanctions: Bush

Thu Jan 26, 12:11 PM ET

Washington (AFP) -The United States will not compromise on financial sanctions imposed on North Korea for alleged counterfeiting and other illicit activities in seeking to resolve the peninsula's nuclear crisis, President George W. Bush said.

"The American people, if we know people are counterfeiting our money, they expect the government to act. And there is no compromise when it comes to, hey, come back to the table so you can counterfeit our money," Bush told a news conference.

North Korea has refused to return to six-party nuclear talks unless the United States lifts financial sanctions in retaliation for North Korea's alleged counterfeiting and money laundering activities.

The US Treasury in September labelled a Macau-based bank, Banco Delta Asia, a "primary money laundering concern" and then blacklisted eight North Korean companies in connection with the bank that it said were involved in spreading weapons of mass destruction.

North Korea pockets up to one billion dollars a year from counterfeiting US greenbacks, trafficking illicit narcotics, smuggling contraband cigarettes and even peddling knockoff Viagra, according to US government estimates.


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