BEIJING, March 22 (Xinhua) -- The six-party talks would go into recess, a diplomatic source close to the talks said Thursday afternoon, asking not to reveal his name and delegation.

The six parties will meet around 5 p.m. and annouce recess of the meeting, the source said.

It is also reported that chief Russian envoy Alexander Losyukov and chief envoy of Democratic People's Republic of Korea (DPRK) would leave Beijing Thursday afternoon.

The talks have been blocked since Tuesday as the DPRK delegation refused to attend the talks until its frozen funds at a Macao bank is fully transferred.

Chief U.S. negotiator Christopher Hill told reporters Thursday morning when leaving hotel for a bilateral meeting with his Chinese counterpart Wu Dawei that the "paperwork" related to the transfer of the DPRK bank account had "made some progress", but he gave no further details.

The new round of six-party talks is supposed to end Wednesday. However, the Chinese Foreign Ministry said Wednesday evening that the talks would be extended amid the stalemate over the frozen funds of the DPRK at a Macao bank.

"As far as I know, the Bank of China refuses to accept the transfer of the frozen funds from the Macao-based Banco Delta Asia(BDA)," Russian representative Alexander Losyukov said at his hotel.

The United States said Monday it had resolved a dispute with the DPRK over roughly 25 million U.S. dollars at the Macao-based BDA (Banco Delta Asia) after having agreed to a DPRK proposal to transfer the money to its account in Beijing.

The sixth round of nuclear talks involving China, the DPRK, the United States, the Republic of Korea, Japan and Russia is aimed at discussing specific steps in the initial phase of the Feb. 13 deal, which says the DPRK shall shut down its nuclear facilities while the other parties shall provide emergency energy assistance to it and the shipment will commence within the next 60 days.