Specialists expect Iraq to renew the request from Washington to protect Iraqi funds abroad
Specialists expect Iraq to renew the request from Washington to protect Iraqi funds abroad
5-19-14
Tomorrow’s Press / Baghdad: experts expected, on Monday, to renew Iraq demand from the United States to protect its assets abroad after the end of protection in the 22 of May current, while stressing source at the Ministry of Finance said that the Iraqi government and the ministry did not Dominate yet no decision on the subject Perhaps it will be announced soon.
A member of the Finance Committee in the House of Representatives deputy secretary Hadi for “tomorrow’s Press,” said that “the central bank and the relevant authorities and taking precautions regarding Iraqi funds abroad and have negotiations prior and current with some countries, especially the United States,” stressing “the need to be out of money Iraqi outside of the scope of international protection and that settled the matter for good. ”
He added that “Iraq must bear the responsibility to protect his assets abroad, because it is a sovereign issue related to his money, and there are many ways to protect the money,” likely that “Iraq renews demand from the United States on the protection money for fear of the emergence of new credit.”
For his part, said a member of the legal committee in the House of Representatives MP Hassoun Fatlawi that “after the fall of the former regime in Iraq appeared several institutions and countries and companies claim to have the rights and obligations of Iraq estimated amounts to not a few of the money to purchase contracts and others, has set up these countries and companies several lawsuits in the courts to restore their rights, “noting that” most of these suits void and has no legitimacy have taken decisions against Iraq because of what he experienced of the conditions after 2003, and the beginning of the Iraqi state and the new system and the weakness of the Iraqi diplomacy at the time. ”
He told “tomorrow’s Press,” said that “thousands of lawsuits and complaints against Iraq because of them were booked large amounts of Iraqi funds abroad and these cases need to effortlessly senior diplomat to be settled and until the settlement of these claims and the length of time required, the Iraqi funds abroad need of international protection” , noting that “when the U.S. president the power to protect Iraqi funds and stand up against the decisions of the courts, because the United States Her relationship with Iraq after toppling Saddam Hussein’s regime.”
He Fatlawi that “litigation is not over yet and there are still many of them against Iraq, if raised U.S. protection for Iraqi funds will become our money at risk and would confiscate,” explaining that “Iraq needs to extend the protection of the U.S. president on Iraqi funds, in order for diplomacy in Iraq to end the suits against Iraq through the establishment of counter-claims or challenged. ”
He noted a member of the Legal Committee that “due to political differences and the situation of the Iraq and the continuing differences dissipated the will of the Iraqi and weakened in the face of challenges, so we need a year or two for the completion of the settlement of litigation to end the U.S. protection to Iraqi funds abroad.”
For his part, said a source in the Iraqi Ministry of Finance for “tomorrow’s Press,” that “the ministry and the government has not so far were taking any action on the matter,” adding, “Maybe the Iraqi government will take action regarding Iraqi funds abroad during the short period of time.”
As a member of the Finance Committee Najeebeh Najib, but believed that “Iraq has become full sovereignty after emerging from Chapter VII, which can protect his money, but the decision ultimately goes back to the Iraqi Ministry of Finance and the Council of Ministers,” unexpected “Renewing Iraq demand from the United States to the protection of Iraqi funds abroad” .
Furthermore, said the former deputy governor of the Central Bank of the appearance of Mohammed Saleh said that “U.S. protection to Iraqi funds imposed by the U.S. President under the emergency law the U.S. and that this protection is accompanied by the Development Fund for Iraq for the receipts of oil, which was established under resolution 1483 in March 2003, and that all Iraq’s oil revenues are deposited in This account is located in New York and 5% deducted from compensation due to Iraq’s invasion of Kuwait. ”
He told “tomorrow Press”, “The Fund of Iraq, or the expense of Iraq has Bhmajtn first by the United Nations, which ended under UN Security Council Resolution 1956 on June 30, 2011 The new Iraq protection again until 2012, and then renewed again in 2013 and ending in 2014 22 May of the current, while the second protection of Iraqi funds are from the presence of the U.S. president. ”
Saleh continued that “Iraqi funds abroad is oil money source, and thus there is no safety does not appear creditors new Iraq as raised U.S. protection for his money,” adding that “Iraq has met its obligations to creditors of governments or traders or businessmen, according to the agreement Judge of the Paris Club to pay 20 percent of the amounts owed by him in the form of payments for waiver of those actors about 80 percent, or pay 10% in cash in exchange for ceding 90 percent. ”
He predicted that the benefit of “Do not lift the United States protect all of Iraq’s money abroad, because of the money Iraqi oil revenues that go into the Development Fund for Iraq is still subject to the mechanism of the United Nations, and therefore not the laws of the United Nations nor U.S. laws allow assaulting money Other like Iraq” .
He said the deputy governor of the Central Bank of the former that “Iraqi funds abroad are protected and no one can be touched and there is much fear of the loss of Iraq’s money abroad, and also that Iraq has legal force and the Committee on the problem of the Ministry of Justice has been working for years to defend the rights of Iraq abroad and has contacts with major superheater global companies, “noting that” most of the suits against Iraq from the private sector, malicious and untrue and Iraq is capable of dropping these cases easily, but it takes time. ”
Deposited in (the Development Fund for Iraq) Iraq’s revenues from oil exports and withdraw from the United Nations of such proceeds 5% compensation to Kuwait for the invasion of Iraq has, while the Ministry of Finance to pay the debt of Iraq by the Government recognizes the responsibility of overseeing the fund.
And the Development Fund for Iraq, DFI form under UN Security Council Resolution 1483 to protect Iraqi funds from international claims and pirated after the events of the year 2003, while among experts that Iraq has lost part of its expenses, and that any obstruction in the rates of export of oil or the fluctuation in prices, will affect the ability of government spending.
The UN Security Council has committed the Iraqi government at the end of 2010 to develop a plan for the receipt of the oversight functions on the “Development Fund for Iraq,” the United Nations the end of 2010, of the Iraq after placing it in the locker U.S. federal to ensure immunity by law the U.S. presidential him and that would the protection of Iraq’s oil imports from custody by a lot of creditors.
The UN Security Council voted, on the 27th of June 2013, unanimously approved the decision to remove Iraq from Chapter VII, in the presence of Iraqi Foreign Minister Hoshyar Zebari, and before that Iraq sought to cancel the debts arising during the reign of the former regime, amounting to more than 120 billion dollars, which date back some to compensation because of wars with its neighbors and some other countries and traders, with some states requiring the government and Iraqi traders need to pay their dues and are threatening to sue in international courts to fund Iraqi imports.
alghadpress.com
