A Russian bank which has received multiple sanctions exemptions since 2016 to serve as a limited banking channel into North Korea participated in high-level discussions in Pyongyang at the end of last week, according to an official report from Russia's Ministry for the Development of the Far East (MDFE).

The report, released on Monday, said at least one representative from “CB (Commercial Bank) Sputnik” held meetings with North Korean officials during the June 6-8 visit of a 12-person economic-focused delegation to Pyongyang, led by head of the MDFE Alexander Kozlov.