Russia helped North Korea gain access to international banking systems - NYT

Russia has allowed the DPRK to unlock millions of dollars worth of frozen assets and may have helped Pyongyang gain access to international banking networks after North Korea transferred weapons to Moscow for the war in Ukraine.

Source. The New York Times reports, citing intelligence officials from US allies.

Last month, the White House said it had evidence that North Korea had transferred ballistic missiles to Russia. According to the US, North Korea was hoping to receive weapons or military technology in return.

According to an analysis by a British think tank, Pyongyang also appears to have sent up to 2.5 million rounds of ammunition to Russia.

It is not known whether Russia has provided North Korea with military technology, but new ties in the banking sector are another indication of the strengthening of relations between the two countries, the NYT writes.

According to intelligence officials, Russia allowed the unblocking of $9 million of the $30 million of frozen North Korean assets held in a Russian financial institution.

Pyongyang is likely to use this money to buy oil. In addition, according to intelligence, the front company recently opened an account with another Russian bank, which means that Moscow may be helping Pyongyang circumvent UN sanctions that prohibit most banks from doing business with North Korea. The new bank account was opened in unrecognised South Ossetia, which has close ties to Russia.

American officials do not know the details of Moscow's agreements with Pyongyang. However, they noted that these financial transactions are in line with US expectations of what North Korea might demand from Russia in exchange for arms supplies.

Background. To recap, China complained to the US about the "successful military cooperation" between Russia and North Korea.