Half of North Korea’s recently unfrozen assets in the Banco Delta Asia will likely be transferred to Russian and Italian banks in a few days, the Macao Daily reported Thursday. The receiver banks have not been identified, nor has their willingness to handle the North Korean funds been confirmed. Quoting sources, the newspaper said the parties concerned are working to transfer US$13 million out of the $25 million in North Korean assets to Russian and Italian banks. Assets in U.S. dollars will be sent to Russia and funds in euro will go to Italy.

If all goes smoothly, the Foreign Trade Bank of North Korea will receive the assets by this weekend, the daily reported. The transfer is expected to be complete by mid-May, even if the funds are not sent this week. It remains to be seen what will happen to the other half of the money, the newspaper added.

(englishnews@chosun.com )