US removes North Korea from Terror List

Recently, the United States, namely the Bush administration, has talen a decision to remove North Korea from its state sponsors of terror list and end economic sanctions against this Asian country.

However, the above-mentioned news is not likely to have a sufficient impact on how financial institutions and other companies will deal with this Asian country.

Plans to remove North Korea from the terror list within 45 days were announced on June 26, 2008. North Korea was included into the list in January 1988.

It should be noted that discussions with North Korea about excluding it from the terrorism list have been held for at least 8 years. The country’s officials have been asking to remove it. This is seen as part of the price for being more welcoming in the nuclear disarmament negotiations over dismantling that nuclear weapons program.

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