Urgent .. Obama issued a decision to lift the immunity of Iraqi funds in the Development Fund for Iraq
Urgent .. Obama issued a decision to lift the immunity of Iraqi funds in the Development Fund for Iraq
Wednesday, May 28 / May 2014 13:13
[Follow-up – where]
Lifting of U.S. President Barack Obama immunity for the Development Fund for Iraq, imposed by UN Security Council Resolution 1483 to protect Iraqi funds from international claims after the fall of the former regime in 2003.
He attributed Obama’s decision issued, on Tuesday, to “change the conditions that necessitated protection mode on oil revenues of Iraq,” noting that “the changing circumstances in Iraq, including the progress made by the Government of Iraq in the solution and manage the risks associated with the debt owed and claims arising from the the actions of the former regime of Saddam Hussein. ”
The lifting of the ban, returning the proceeds to the Development Fund for Iraq, Iraqi Central Bank, and it becomes possible for any state or company affected by the former regime in Iraq to sue U.S. courts and claim compensation caused by the system to those of the damage.
Under Chapter VII Security Council resolution, deposited imports of Iraqi oil in the Development Fund for Iraq, and the depositor, in turn, the Reserve Bank of the U.S., which used its imports for the development of Iraq under the supervision of the United Nations, with the deduction of 5% down payment of compensation Kuwait totaling nearly 52 billion dollars due to the invasion of Iraq have in 1990.
And committed the Security Council the Iraqi government in 2010 to develop a plan receiving oversight functions on the Development Fund for Iraq, the United Nations the end of the same year, the deposited later in the Treasury of the Federal American barricaded the decision of the U.S. executive would protect Iraq’s oil revenues from seizure by creditors.
The UN Security Council has voted unanimously in June of last year, the decision to remove Iraq from Chapter VII, after actively pursued by the Iraqi government to meet their debts with several countries, including Kuwait because of the actions of the former regime in Iraq.
The total debt owed by Iraq nearly 120 billion dollars, covering a large proportion of them amounts of compensation resulting from wars with neighboring countries him, a product of the only one who took him out after 8 years of war with Iran and 13 years of economic blockade and military wars with the United States and its allies. by the occupation of Kuwait. End
alliraqnews.com
