The financial advisor clarifies about depositing Iraq’s funds in the US Federal Reserve

The financial advisor clarifies about depositing Iraq’s funds in the US Federal Reserve

2023-01-02

The financial advisor clarifies about depositing Iraqs funds in the US Federal Reserve Paratha News Agency193On Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, clarified regarding depositing the revenues obtained for Iraq from the sale of oil.

Salih said, in an explanation, “(externally) and according to Security Council Resolution 1483 in May 2003, the revenues of the Ministry of Finance from crude oil, gas, exported derivatives, and other funds are deposited in the Federal Reserve Bank in New York, all of which are deposited in an account that was called DFI or its current alternative, Iraq / 2 And held by the Central Bank of Iraq on behalf of the state to deduct compensation for the Kuwait war that ended more than a year ago from crude oil, derivatives and gas (if any). The reserve is called Iraq/1.

And he added, “As a result, the protection of the former United Nations and the protection of the United States over Iraq’s funds according to the presidential executive order annually is issued on the funds of the Central Bank of Iraq deposited in the US Federal Reserve in the United States specifically, (internal) all the aforementioned funds and others belonging to the Ministry of Finance are recorded in an account Internal in dinars 600/300 for settlement purposes.

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