BEIJING, July 14 (Xinhua) -- After two phases of arduous talks, participating parties at the fourth round of the six-party talks issued a joint statement in Beijing on September 19, 2005, in which the DPRK pledged to abandon all its nuclear weapons and existing nuclear programs while the United States affirmed that it has no nuclear weapons on the Korean Peninsula and has no intention of attacking or invading the DPRK with nuclear or conventional weapons.

    The DPRK also stated that it has the right to peaceful uses of nuclear energy. The other parties expressed their respect and agreed to this.

    Afterwards, the U.S. Department of Treasury claimed that the DPRK has laundered money and circulated counterfeit dollars through Macao's Banco Delta Asia and forbade U.S. financial institutions from doing business with the bank. The bank halted operations with the DPRK and froze its 25 million US dollar funds. The DPRK denies the U.S. charges.

    In 2006, the United States and the DPRK failed to reach consensus on "forged U.S. dollars" and "financial sanctions" and the six-party talks were plunged into deadlock.

    On February 13, 2007, the third phase of the fifth round of the six-party talks ended in Beijing with a joint statement on the first step toward the denuclearization on the Korean Peninsula.

    According to the document, the DPRK will shut down and seal the Yongbyon nuclear facility, including the reprocessing facility, and invite back IAEA personnel to conduct all necessary monitoring and verifications. The parties agreed to the provision of emergency energy assistance to the DPRK in the initial phase, and the assistance equivalent to 50,000 tons of heavy fuel oil will commence within 60 days.

    On March 13-14, Mohamed ElBaradei, director of the International Atomic Energy Agency (IAEA), visited the DPRK at the invitation of the country.

    On March 19-22, the first phase of the sixth round of the six-party talks was held in Beijing. The parties reaffirmed that they will faithfully carry out their commitments in the September 19, 2005 joint statement and the February 13, 2007 joint document.

    On April 11, the United States expected the DPRK to fulfill the terms of the landmark nuclear deal as a key deadline looms.

    On April 20, the DPRK reiterated its commitment to implementing the February 13, 2007 agreement, saying it would invite the IAEA delegation to the country once it retrieves the 25 million dollars in funds frozen in Macao's Banco Delta Asia.

    On May 1, U.S. Secretary of State Condoleezza Rice said in Washington the United States would allow the DPRK more time to close the Yongbyon facilities, since the funds issue was more complicated than expected.

    Russian Foreign Ministry Spokesman Mikhail Kamynin said on June13 that Russia would not oppose Russian banks being involved in the transfer of the DPRK funds frozen in Macao's Banco Delta Asia. The United States praised Russia's decision and promised it would not impose sanctions on the Russian commercial bank involved.

    The DPRK Foreign Ministry announced on June 25 that the frozen fund dispute with the United States had been resolved, vowing it would start implementing the disarmament deal struck on February 13.

    The DPRK Foreign Ministry said on July 6 the country would begin to close and seal its nuclear facilities in Yongbyon after receiving one tenth of the 50,000 tons of promised heavy fuel aid. At a special session on July 9, the IAEA's board of governors agreed to send inspectors to verify and monitor the shutdown and sealing of the nuclear facilities in Yongbyon.

    On July 14, a 10-member team of IAEA inspectors arrived in Pyongyang to verify and monitor the shutdown and sealing of the nuclear facilities in Yongbyon.