U.S. to lift the immunity from Iraqi funds .. Reality and Challenges

U.S. to lift the immunity from Iraqi funds .. Reality and Challenges

04/06/2014 1:08

Author: d. Appearance of Mohammed Saleh

The White House announced the U.S. in 29 Maes 2014 decision of U.S. President Barack Obama to lift the legal immunity granted to the Development Fund for Iraq’s oil revenues, and petroleum products, and financial assets and other property held by the Central Bank of Iraq, about the prosecutions brought against Iraq, attributing the cause to the evolution in the ability of the Government of the Republic of Iraq to manage the consequences associated with the debt arising from the previous political system and the accompanying lawsuits filed it. stressing that the measure would not affect the state of national emergency for the United States set forth in the matter Presidential Executive 13303 22 Maes 2003, which was extended successively more annual Over more than a decade.
thus rolled Iraq another decade of its contracts dark recorded by the history of its economy and political relations stalled international community and which lasted since the end of the summer of 1990 on Iraq invaded Kuwait and faced the previous political regime of international sanctions complete and carry Iraq strict liability arising from losses Kuwait war that her body starting and in particular resolutions Alsadran UN Security Council and Almno.an 660 and 687 for the years 1990 and 1991 respectively, to announce the end of the sanctions, but after two decades and the odd time and the Security Council resolution No. 2108 of June 27, 2014, which he spent to drive Iraq from Chapter VII of the UN Charter. A chapter which authorized the said Council and since 1990 to address the validity of the acts of threatening world peace or assault on peace in the world by using the means of economic boycott and justify the use of military force against Iraq. In light of the exposure to him Iraq from political and economic changes and acts of war an enormous body occupying American forces and other foreign country on April 9, 2003 and the defeat of the previous political system, while the Security Council issued resolution No. 1483 in May 2003, which provided legal protection to the quantities of crude oil exported, as well as products oil and natural gas originating in Iraq shall be immune from lawsuits arising from trade creditors or Gerhhm on Iraq. well as providing protection to the proceeds of the Development Fund for Iraq, DFI is a summary of accounts receivable oil after deducting a 5 percent compensation to the victims of the war in Kuwait after the addition of any frozen funds or other owned by the Republic of Iraq to be launched and then deposited in the Development Fund for Iraq account. And noticed that the above-mentioned account has been opened on behalf of the Iraqi Central Bank (State Bank) with the Federal Reserve Bank of New York (which is a branch of the U.S. central bank). Has been subjected said account for review and annual monitoring by the Commission of the United Nations, formed on the basis of Security Council Resolution 1483 in 2003, so-called (the International Council for advice and oversight IAMB) in order to be assured that the fund spent on the Iraqi people, as well as check the oil revenues to ensure deduction 5 percent in compensation to the victims of the war in Kuwait and received by the United Nations Fund for compensation UNCC.
Consistent with the laws of national emergency to the United States, the White Asdralbat it first Presidential Executive in May 2003 to coincide with the UN Security Council Resolution 1483 mentioned above. It provided a presidential order Executive Chairman of the U.S., which has been renewed annually for more than a decade, the protection of the U.S. government to fund the Iraqi Central Bank of the risk of custody or settlement orders judgment judicial unilaterally issued by foreign courts.
, and in order to alleviate some of the articles of Chapter VII of the Charter UN before the adoption of a resolution lifting the College, the UN Security Council issued three important decisions Among them was Resolution No. 1956 December 15, 2010, which ended officially arrangements regulatory supervised by the United Nations and on the mechanism of the account Single account receipts oil and expense of the Development Fund for Iraq, DFI unencumbered in the period ending in June 30, 2011, which means the end of international protection money to the Republic of Iraq. In spite of this, the presence of U.S. troops that are not full withdrawal from Iraq, but at the end of December of the year 2011, may renew it WYSIWYG Presidential Executive in the 22 of Maes in 2011 to protect the money of the Republic of Iraq deposited in the United States against the judicial proceedings. And continued to renew it for the last time presidential month Maes in 2013 for one year, which is already the Security Council resolution No. 2108 on June 27, 2013, which drove Iraq from Chapter VII and the remaining clauses. So I went back outstanding issues with Kuwait being outside the scope of this chapter of the UN Charter, which requires resolved amicably and in line with Chapter VI of the Charter mentioned (ie, to resolve differences among nations through peaceful means.)
In light of the foregoing, and with the withdrawal of U.S. military from Iraq and out of Iraq of Chapter VII of the UN Charter, it became illogical (and in accordance with the norms and principles upon which international politics and obligations of international law) that supports President George state of national emergency against Iraq to extend the protection to his money, especially after the end of the semantic objectivity that was warranted for the President of the United United American issuing his order Presidential Executive for another year in order to protect whereby the funds of the Republic of Iraq on the territory of the United States away from prosecutions!.
, but the question remains outstanding and raised always about what guarantees currently available within the area of jurisdiction of the U.S. after he was lifted protection internationally and then an American, What is the amount of legal protection possible to make money republic free from the risk of custody Aze suits filed or the referee’s decisions taken in the U.S. federal courts or other against certain entities of the Government of the Republic of Iraq on issues related to pre-1990, especially commercial debt unreconciled Under the terms of the Paris Club agreement in 2004? In order to answer this question is important and sensitive can express this point of view the following:
First: not in the principles of international law shall authorize the people to expose any shipments of Iraqi crude oil source, especially FOB to procedures custody by commercial creditors in any area of jurisdiction, due to transmission ownership of oil exported to third-party buyers, especially him. In addition, Fmasalt UN holds the deduction of 5 percent from the proceeds of Iraq’s oil exports in compensation for war in Kuwait and deposited beginning in accounts receivable oil singular OPRA opened at the Federal Reserve Bank of New York and then withdrawn in the interests of the United Nations Fund for compensation. Which is not allowed to pace Booking money, some dating back as rights to the UN. nor noticed the presence of an international judicial precedent justify such actions or possible scenarios in the modern era and the relations between the nations. It is expected the end of that compensation resulting from the war in Kuwait and paid college in May of 2015.
Secondly, were not deposits of the Iraqi Central Bank in its accounts open at the Federal Reserve Bank untouched by reservations judiciary, especially if those bookings carry warranties or guarantees precedent issued by the central bank before 1990 to creditors and which may undertake such guarantees on the way that interferes with legal immunities implicit available on his money, and that Snarj in below, in the case to withdraw from the payment of the debt or financial obligation in front of creditors and based on the principle of the so-called disable legal immunity Express Waiver Creditors.
Though This partial, there is a precedent, was the lawsuit filed on the Argentine government from commercial creditors in the United States, failed to confiscate money Argentine government deposited with the Federal Reserve Bank of New York in 2011 and the reason for this is that the money deposited with the central bank that respects the rule and the independence of the Central Bank of Argentina Light account on behalf of the Argentine government. these previous judicial job offer to Iraq an important pillar of the pillars of immunity to the availability of objective condition in immunities mutual funds between central banks independent (ie, the Iraqi Central Bank and the Federal Reserve Bank).
Thirdly, the central bank could Iraqi diversify foreign reserves available in its investment portfolio and for many years in the areas of jurisdiction outside the United States and U.S. presidential mechanism it Aouhmih the United Nations, particularly in the central banks of some of the major countries of the European Union. He could not one of the trade creditors disabled legal immunity EWC and even by the creditors who had previously Kvlhm the Iraqi Central Bank on behalf of the government in the previous political system.
Fourth, confirmed the facts in the above that the CBI duties legal and usual bank of the state and continuing maintenance of the accounts of the Government of the Republic of Iraq in the areas of jurisdiction guarantor, he himself is a provider of legal guarantees about the attempt to prejudice public funds for the country under the pretext of prosecution or reservations raised by the trade creditors even if the use of such government accounts for commercial purposes or the opening credits as a mechanism for financing trade. noting in this regard, The legal code of fiscal and monetary French amended by Law 842/2005, which came under the title: trust and modernization of the economy is providing for the protection of money the central bank to our country and deposited with the Central Bank of the French … and so it is the same in the area of jurisdiction of the British (albeit less freedom) in the use of government deposits deposited on behalf of the CBI.
conclusion: should not overlook the role that birth and still played by the Ministry of Justice and her team of technical Permanent Council of Ministers on the protection of funds Republic and defending the rights of Iraq and assets different about the claims raised against our country in foreign courts and exposure to Iraq’s money Official here and there, what was his impact actor in addressing the false claims and many of them disabled and disadvantaged restitution, support and maintenance funds of the Republic of Iraq over the past years.

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