Rus News Journal

The United Nations have confiscated Hussein`s petrodollars

the UN Security Council have accepted the resolution which arrests all contributions of Iraq frozen earlier to foreign banks. The special fund will be formed of these means for the humanitarian help to Kurds and victims in days of the Iraq intrusion into Kuwait.

Iraq has large contributions to foreign banks, mainly in the United States. According to the American experts, it is a question about hundreds millions dollars. These means have been frozen in August, 1990, in some days after the Iraq intrusion into Kuwait, however Iraq had possibility to dispose of them for purchase of the humanitarian help.
the new resolution blocks such possibility. All calculations of Iraq with other states on oil sale will be arrested also. The means liberated as a result of these actions will make special fund from which the humanitarian help to Kurds will be financed and to be paid indemnification more than to two millions victims during the Iraq intrusion into Kuwait.
the Security council explains the decision to that Iraq has rejected cooperation with the United Nations in performance of resolutions 706 and 712 which created the mechanism of realisation of the humanitarian help. Besides, Iraq has refused compensation of the damage put to Kuwait during the intrusion and occupation. At last, according to the resolution 692, contributions which Iraq should bring in an indemnification fund, concern exclusively oil and the oil products exported from Iraq.

the most part of the means obtained by Iraq from sale of oil and oil products, is in banks of the USA.

It is supposed that will be arrested not only petrodollars, but also the oil which is prepared for sale and being now in Turkey, Saudi Arabia and Yemen.
almost all councillors of Safety have voted for the resolution. The representative of China has refrained only. Explaining the position, Whether the ambassador of China at the United Nations of Dajo (Li Dayou) has declared that now there is no necessity for so extraordinary measures.
the Minister for Foreign Affairs of Iraq Mohammed al Sahaf (Mohammed Al Sahaf) declared this very day the relation of Iraq to this resolution. He has declared that it has no lawful bases and has suggested Security council to begin negotiations with Iraq about oil sale.

WORLD POLICY DEPARTMENT