Foreign Relations: Congress did not mind the extension of the protection of Iraqi funds

04/16/2012

BAGHDAD / JD / .. hinted Foreign Relations Committee to the possibility of parliamentary approval of the U.S. Congress to extend the protection of Iraqi funds deposited in international banks, amounting to about $ 64 billion for a period of one year. A member of the Committee Deputy mainstay John’s / JD / “The U.S. side has agreed to extend the protection of Iraqi funds abroad, and that the U.S. Congress to extend the term did not mind.” John added, “The funds need to… extend the ethnic fact that Iraq did not graduate from Chapter VII.” He pointed out that “the outstanding issues with the State of Kuwait and other activities related to nuclear, chemical, which was carried out by the former regime are all you need for the implications of the international community for the withdrawal of Iraq from Chapter VII.” He said, “America in the past was occupied for Iraq but now it is a country the rule of dealing with Iraq as two complementary”. In conclusion, a member of the Foreign Relations Committee, “The relationship with America is good and the process of development towards the interests of Iraq.” Does not separate us from the end of U.S. protection for Iraqi funds deposited in international banks only (34) days, and that he failed Iraq to convince the Obama administration to extend the protection will be vulnerable to looting by the claims of Judge compensation described Eadah according to the Iraqi Central Bank and the Economic Commission of the Council of Ministers demanded that the Iraqi Prime Minister and the Foreign Ministry to address the U.S. President Obama about the possibility of extending the protection period for the money another year. And held a special ministerial committee to develop a mechanism to ensure the protection of Iraq’s money in its twentieth meeting last Wednesday under the chairmanship of the Deputy Prime Minister Roژ Nuri Shaways and the presence of ministers of finance and oil, Justice and President of the Office of Financial Supervision and Governor of Central Bank of Iraq and Clai and Foreign Ministries of Planning and Legal Adviser to the Prime Minister and Advisor to the Deputy Prime Minister. The Committee deliberated the procedures and steps to be pursued to protect Iraqi funds and assets deposited abroad, especially with the imminent expiration of the protection provided by the U.S. presidential decision for the money and assets until next May. The Commission adopted a series of resolutions and recommendations to be working out in the forefront of a recommendation to the Council of Ministers to submit a formal request on behalf of the Government of the Republic of Iraq through the Ministry of Foreign Affairs to the U.S. government to adopt a resolution a new presidential provides protection for Iraqi funds for a new year with effect from 20 May 2012, according to the Bank CBI, decision to the United States President Barack Obama, put the Iraqi funds abroad, under American protection, and to prevent any judicial decisions to freezing or seizure under the presence of compensation claims and the resolutions of the debt raised by companies and people, and this protection will continue until the 20 of May next. He estimated the central bank the size of these funds as large, there are several billion dollars are distributed in a number of countries, in addition to money the Iraqi Development Fund, which contains revenue from the sale of oil that vary between 816 billion dollars, and there is also a $ 52 billion, money belonging to the Central Bank placed in banks U.S. cover of the Iraqi currency is not subject to the decisions of the freeze. Central Bank confirmed the words of his deputy, the appearance of Mohammed Saleh, said that Iraq is able to protect his money abroad and own all the ways the defense to stand against some of the exploiters of the situation in Iraq, and what happened after 1990 to file a lawsuit malicious compensation in large amounts, stressing that Iraq is not responsible for the policies committed the former regime, and the follow-up it confirms that most of these cases were unjustly. / Finished / 11 n

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