U.S. bans luxury exports to NKorea, sets money talks (Reuters)

[Eugene]

U.S. bans luxury exports to NKorea, sets money talks
26 Jan 2007 20:56:05 GMT
Source: Reuters

By Carol Giacomo and David Lawder

WASHINGTON, Jan 26 (Reuters) - The United States on Friday banned exports of luxury
items to North Korea even as it announced a date for critical talks on resolving a
dispute over other U.S. financial curbs on the communist state.

The related moves occurred amid a flurry of diplomatic activity that U.S. and other
officials say could lead to an agreement under which the North halts operations at its
Pyongyang nuclear complex in return for energy assistance and the release of some $7.5
million in accounts frozen in a Macau bank.

President George W. Bush -- his popularity plummeting and embattled by crises with Iraq,
Iran and North Korea -- is desperate for a foreign policy win, many U.S. officials and
experts say, and seems willing to make compromises he previously resisted.

A rule issued by the U.S. Commerce Department details the luxury goods Washington plans
to block under U.N. trade sanctions mandated after Pyongyang conducted a nuclear test
on Oct. 9.

Banned items include cognac, jet skis, iPods, jewelry and fancy cars, all part of an effort
to pressure Pyongyang's communist leaders by denying their reputed high-end tastes.

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