Sputnik Bank “ready to offer its services” to renew North Korea banking channel
Efforts necessary to find a non-sanctioned partner financial institution in the DPRK
Russia’s Bank Sputnik says it is “ready to offer its services” to restore a United Nations (UN) banking channel to North Korea that has been suspended for over two years.
Since the DPRK’s only banking connection with the outside world – created specifically for humanitarian work – was suspended in December 2017, UN agencies have managed to remit only one lump sum of cash to Pyongyang.
Though the four million euros sent in early 2018 means UN agencies are unlikely to face a cash crisis in the short-term, if the banking channel is not restored soon then
- 01Change and consistency in North Korean markets: domestic vs global food prices
- 02North Korea’s upcoming Supreme People’s Assembly session: review and prospects
- 03ROK-U.S. cost-sharing talks: what’s at stake in the battle between the allies
- 04North Korea in March 2020: a month in review and what’s ahead
- 05Timeline: from North Korea coronavirus fears to a new bout of missile testing
- 06Contextualizing North Korean foreign ministry comments on Pompeo
- 07North Korea tests “super-large” rocket launcher: what we learned
- 08North Korea’s Cabinet Premier Kim Jae Ryong: his first year and what’s next