North Korea Accuses US of Escalating Arms Race

North Korea Accuses US of Escalating Arms Race

China President Jintao and Kim Jong Il
Oct. 28, 2005.

(Best Syndication) The North Koreans expressed concern and accused the U.S. on Friday of escalating an arms race with what they called a plan to build a global missile defense program. The North Korean news agency (KCNA) reports that the North Koreans warned the United States that it might strengthen its "self-defense" program.

This comes just when one of the key conditions of the February nuclear disarmament agreement is nearly completed. Back in February the North Koreans agreed to dismantle their nuclear reactors after the US returns money from a frozen Macau bank account.

American Express

On Thursday the bank released the funds, according to a report from Voice of America (VOA). It is unclear whether they have been completely transferred to a North Korean account in a Russian bank.

It is not certain whether the North Koreans have dismantled their nuclear reactors, but according to South Korea's top nuclear negotiator on Friday, that will be more difficult than resolving a banking issue.

On Thursday, officials in Macau Banco Delta Asia said they remitted most of the $25 million in funds that the bank has held since 2005. Back in 2005 the funds were frozen after the United States made allegations that the Macau bank was used to launder money for North Korea.

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By Tom Madison
Best Syndication News Writer

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