March 14 (Bloomberg) -- North Korean officials will allow United Nations nuclear inspectors into the country once the U.S. removes financial sanctions, Mohamed ElBaradei, the UN atomic energy chief, said today after a visit to Pyongyang.

``The DPRK says their cooperation, accepting inspectors, will come after the lifting of the sanctions,'' said ElBaradei, head of the International Atomic Energy Agency. The DPRK refers to North Korea's official name, the Democratic People's Republic of Korea.

North Korea wants access to its Macau bank accounts that have been frozen, said ElBaradei, who spoke in Beijing on return from meetings with North Korean officials in the country's capital. Access to the accounts at Banco Delta Asia SARL was blocked after the U.S. government designated the financial institution a ``money laundering concern'' in 2005.

IAEA inspectors haven't been in North Korea since they were ordered out in 2002. ElBaradei's arrival in Beijing coincides with that of some envoys to the six-nation talks on North Korea's nuclear weapons program. U.S. Assistant Secretary of State Christopher Hill flew in today to prepare for the talks beginning March 19.

``The fact that North Korea received Mr. ElBaradei was a good sign,'' Hill said on arrival. Hill meets the IAEA chief tomorrow.

`Open the Door'

ElBaradei said his meetings helped to ``open the door'' for a better relationship between nuclear regulators and North Korea.

``The DPRK understands the monitoring process, and we understand their sensitivities and apprehensions,'' he said.

Hill and envoys from China, Japan, North Korea, Russia and South Korea will follow through on a Feb. 13 deal brokered by Chinese officials. In that agreement, Pyongyang agreed to wind down its nuclear program in exchange for food aid and energy assistance.

The envoys will participate in talks on dismantling the plutonium-producing Yongbyon reactor on March 17 and 18. A working group on energy and economic aid hosted by the South Korean delegation meets in Beijing tomorrow.

China believes that, in these talks, ``we will be able to begin the steps necessary for implementing the joint statement issued last month,'' Chinese Foreign Ministry spokesman Qin Gang told reporters yesterday.

Under the Feb. 13 agreement, North Korea has 60 days to shut down Yongbyon in return for economic assistance equivalent to 50,000 tons of heavy fuel oil for electricity production. If Kim Jong Il's government disables the reactor, it will receive an additional 950,000 tons.

To contact the reporters on this story: Allen T. Cheng in Beijing at acheng13@bloomberg.net; Brian Lysaght in London at blysaght@bloomberg.net.

Last Updated: March 14, 2007 14:19 EDT