U.S. slap against bank stuns foreign business in N. Korea.

Publication: Kyodo News International (Tokyo, Japan) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2005 Kyodo News International

Byline: Ralph Jennings

Sep. 19--BEIJING -- A U.S. Treasury condemnation of the bank through which North Korea does most transactions with foreign companies could set back foreign trade with a country just beginning to open its markets, business people said Monday.

The U.S. Department of the Treasury finding on Thursday that Macao-registered Banco Delta Asia SARL was a "primary money laundering concern" and proposal to ban U.S. financial institutions from doing business with it could freeze some U.S. dollar accounts or force foreign-North Korean transactions underground, they...

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