"The six party talks remained stalemated since November 2005 when North Korea announced its second boycott of the talks (the first boycott was from August 2004 to July 2005), this time declaring that it would not attend the negotiations as long as the United States maintained 'financial sanctions' against the Banco Delta of Macau. In September 2005, the U.S. Treasury Department had issued a notice calling on U.S. financial institutions to cease dealing with Banco Delta, which the Treasury Department charged was complicit in North Korean illegal activities such as counterfeiting U.S. currency and drug trafficking. U.S. officials stated that it would continue to pursue measures against North Korean illegal activities. On July 4, 2006, North Korea fired seven missiles into the Sea of Japan, including one long-range Taepodong II missile. However, the Taepodong II's liftoff failed after 40 seconds, and the missile fell into the sea. After intense diplomacy, the United Nations Security Council unanimously passed a resolution on July 15, 2006. It 'requires all Member States' to prevent the transfer of financial resources and technology to North Korea in relation to Pyongyang missile or weapons of mass destruction programs. It 'strongly urges' North Korea to return to the six party talks. North Korea immediately rejected the resolution. In June 2006, the U.S. Senate passed an amendment to the FY2007 defense authorization bill that would require President Bush to appoint a senior presidential coordinator of policy toward North Korea and submit to Congress an unclassified report on North Korea's nuclear and missile programs."
CRS Report for Congress, RL33590