Breaking News

Asia Today ISSN 1861-4604 Sunday, October 21, 2018

Headline

North Korean diplomat accused of trying to smuggle gold

$1.4 million worth of gold bars into the country

Share on Facebook March 9, 2015, Reporter : BigNewsNet, Reader : 620

news

DHAKA, Bangladesh -- North Korea's search for external sources of income was brought to the attention of officials in Bangladesh at an airport in Dhaka when a North Korean diplomat tried to transport $1.4 million worth of gold bars into the country Friday.

The North Korean national, Son Yung Nam, was accused of smuggling in 170 gold bars, The Los Angeles Times reported.

Bangladeshi customs officials said the gold was most likely headed for a "local criminal racket" in order to raise cash for North Korea.

North Korea has been isolated from the financial system through a number of U.S. and U.N. sanctions, and according to The Heritage Foundation the secretive country has been connected to drug smuggling and money laundering in other parts of Asia.

On Jan. 2, in response to a cyberattack on Sony Pictures in November, the U.S. Treasury was granted the authority to place sanctions against individual North Koreans.

The Treasury has said the latest U.S. sanction allows a "broadening of [its] authority to increase financial pressure" on North Korea.

The economic pressures on Pyongyang also have recently intensified.

Reliable trading partners like China cannot be counted upon as a destination for North Korea's coal, which along with iron ore comprise 60 percent of North Korean exports.

But North Korea lifted an Ebola-related travel ban on March 4, only days after notifying outside tour operators that organizers of the Pyongyang marathon would not allow foreigners to run in the annual sporting event.

The return to resumption of travel into North Korea is reopening its land border with China, and with it the promise of cash from tourism.

A train that runs between China and North Korea resumed service on Monday for the first time since Oct. 24, when North Korea placed Ebola-related travel restrictions on visitors.

The train left on Monday morning, carrying 72 passengers, Yonhap reported.Elizabeth Shim> BNN

More Euro Asia news of the month

Photos

Mentioning that one of the world's languages disappears in every two weeks, the Unesco has urged all countries to promote...

Photos China outbids India for stake in DSE

Bangladesh has agreed to sell a large stake in its stock exchange to a Chinese consortium, an official said on Tuesday, rebuffing a...

Photos UN expects free and fair polls in Bangladesh

DHAKA: The office of the UN secretary general expressed hope that Bangladesh will reach into an environment to hold a free and fair...

Photos Donors losing interest to help Rohingyas

Donors have lost interest in giving emergency aid to Rohingyas, David Beasley, executive director of the World Food Programme, has told...

Photos Lawyers Zainul-Khokon secured ad interim bail

The High Court on Sunday gave ad interim bail to Supreme Court Ainjibi Samity president Adv Zainul Abedin and its secretary...

Photos Violent protests in Bangladesh after Khaleda Zia verdict

Dhaka [Bangladesh], Feb 9 (ANI): Violent protests have taken place across Bangladesh after former prime minister and opposition leader...

Photos AL needs to try its corrupt leaders now, CPB says after Khaleda’s conviction

The Awami League risks Khaleda Zia’s conviction clouded with controversy if its leaders involved in corruption are not tried,...

Photos Ex-Bangladesh PM Sentenced to Five Years in Prison

Former Bangladesh Prime Minister Khaleda Zia has been sentenced to five years in prison on corruption charges. Zia received the...

Photos Indonesia, Bangladesh committed to enhancing ties

Dhaka [Bangladesh], Jan 29 (ANI): Indonesian President Joko Widodo wrapped up his two-day visit to Bangladesh on Monday and called for...

Flying Reimagined

Stock Index

Sunday, October 21, 2018

Life Style

Photo Gallery

FEUILLETON