Showing posts with label Restored Iraq. Show all posts
Showing posts with label Restored Iraq. Show all posts

Thursday, December 16, 2010

12-15 New international commitments after the withdrawal of Iraq from Chapter VII

Posted: December 15, 2010 by Justhopin in Iraqi Dinar/Politics
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UN Security Council voted, Wednesday evening, the exit of Iraq from Chapter VII, after the Council adopted three draft resolution included the extension of the work of international immunity to Iraqi funds and an end to restrictions on the production Taqo nuclear and weapons of mass destruction and the abolition of all Items Chapter VII, including the Food for Oil-for-mandate the Secretary General to the Security Council set up an account at about $ 20 million of oil revenues Iraq until December 2016 to cover the expenses of the relevant United Nations to end the remaining activities of the program, including the financing of the activities of the Office of the Coordinator of the United Nations High Commissioner for cases of missing Kuwaitis and Kuwaiti property.

UN Security Council met late Wednesday in New York in the presence of Iraq, represented by Minister of State, as well as representatives of the five major states, Turkey and Japan.

A statement by the UN body, which includes 15 members which was followed by Vice President Joe Biden’s call for Iraq to “meet its obligations remaining rapidly under the resolutions of the relevant Security Council taken under Chapter VII concerning the situation between Iraq and Kuwait.” Adding that “the situation now in Iraq is different a lot about the situation that existed at the time the adoption of resolution 661 of 1990. “

Out of Iraq from Chapter VII came three draft resolution, the Security Council was positions under the first resolution on the extension of the work (the Development Fund for Iraq) until June 30, 2011 instead of stopping its activities later this year as scheduled at the beginning of the command after Iraq confirmed that it will not request any further extensions of the work of the Fund.

He stressed that the proceeds of exports of oil and natural gas in Iraq will not be deposited in the Development Fund for Iraq after June 2011 but he will continue to deposit five percent of them to the Compensation Fund for the invasion of Kuwait. The second draft resolution represents an end to restrictions on weapons of mass destruction and missiles and the production of civilian nuclear energy imposed on Iraq under resolution 687 of 1991. The decision was the third to take the Secretary General to take all necessary measures to stop all the remaining activities of the oil for food program and the abolition of all letters of credit claims outstanding. The Council adopted resolutions (I and II) was adopted unanimously, in France declined to vote on the draft resolution III.

According to the decision to remove Iraq from Chapter VII, the Security Council authorized the Secretary-General to establish a special account to ensure the retention of $ 20 million from the proceeds of oil until December 2016 to cover the expenses of the relevant United Nations to end the remaining activities of the program, including the financing of the activities of the Office of the Coordinator of the United Nations High Commissioner for missing Kuwaitis and Kuwaiti property issues. as well as to keep about $ 131 million to finance the work of the United Nations and its representatives, agents, independent contractors for a period of six years with respect to all activities related to the program since its inception.

The international position of Iraq came after a series of measures carried out by seven years ago with regard to end the outstanding issues with Kuwait and the payment of compensation and work transparently with the International Organization of Atomic Energy, which was described in its latest cooperation of Iraq with “transparent.” Further tightening of Baghdad in more than of the memorandum of its mission to the United Nations that “the time has come” out of the money the UN resolution.

He Twenty years after the adoption of resolution 661 UN Security Council, which is the second decision issued against Iraq after its invasion of Kuwait in August 1990, the development of which Iraq under Chapter VII of the Charter of the United Nations and imposed on him an economic embargo froze its assets in international banks. According to the resolution, Iraq remains subject to the requirements of Chapter VII that the stresses of the United Nations Security Council’s commitment to Baghdad with all the international resolutions concerning the occupation of Kuwait, including the file of compensation. and after the implementation of resolution 986 known as Oil for Food Programme, the United Nations to develop 5% of the proceeds from the sale of Iraqi oil since 1997 in a special fund to compensate Kuwait for losses suffered as a result of the invasion.

Leaks reported by the official Kuwait News Agency (KUNA) said his consultations, the Security Council to take a final position on Iraq, and Washington created the international atmosphere for the abolition of the international trusteeship in Iraq, as one of U.S. commitments to Iraq after 2003.

Last week, Washington said a delegate in the Security Council, Susan Rice, said he “would be an important opportunity for the international community to find out the real progress made by Iraq concerning the composition of the government in addition to the important steps taken for the completion of its commitment to the Chapter VII.”

For his part, UN Secretary-General of the United Nations to Iraq, Ad Melkert yesterday at a news conference in Cairo that “it is important to get out of Iraq from Chapter VII, and of the international point of view to be that there are effective relationships between Iraq and Kuwait and the entire region and restore the special relations and friendly relations between two countries. “

Is the common border between the two sides one of the most important points of contention so far, and that prompts Kuwaitis demarcated, as well as file which resulted in large awards paid by Iraq of Kuwait.

The Kuwait and Iraq had agreed Tuesday to withdraw about 500 meters from the international boundary between them deep into their territory step aimed at ending the border problems pending between them, and pledged to build 50 houses for Iraqi citizens homes are located very closely to the border and affect the sound vision and close monitoring of the area border.

Position of Kuwait in hand in line for weeks with the need to remove Iraq from Section VII, where Prime Minister Sheikh Nasser Al-Mohammad in September 21 last, support for that, saying that “Kuwait is the first country to wish to exit Iraq from Chapter VII, and this means that Iraq completed the implementation of resolutions and international obligations. “

Confirmed in the Kuwaiti press in a timely manner “Sheikh Nasser Mohammad Al-Prime Minister announced his agreement with the Secretary-General of the United Nations Ban Ki-moon to end the outstanding issues with Iraq.”

Kuwait has sought since the fall of the former regime in the spring of 2003 to establish diplomatic relations firm with Baghdad, referring to being considered for Iraq on the basis of its political system is the new friend her, where dispatched Baghdad in mid-year, its first ambassador to Kuwait to establish “strategic relations” document, while it was Kuwait has sent its first ambassador to Baghdad since 2008.

The Undersecretary of the Iraqi Foreign Ministry, however, Abawi, had confirmed the (Rn) on August 23 last that “Iraq has paid so far $ 30 billion of debt of Kuwait and remained, including $ 22 billion dollars.” And stressed that Baghdad is seeking to end the file of debt and compensation Kuwait exit from Chapter VII soon. stressing his country’s commitment to international resolutions of the Security Council on its neighbor Kuwait to close this file without delay.

While Bush’s Chief of the Arab world in the Ministry of Foreign Affairs of Kuwait Jassem Mubaraki’s (Rn) in the September 14, said he, “There are no outstanding issues with Iraq, and found minor problems, we have joint committees regarding the demarcation of the border and farms of joint and fishermen and coastal waters as well as Safwan border expansion port and oil fields in common, and will take these problems to be solved in the future. “

In Iraq announced on 19 September last in the statement of the spokesman for his government Ali al-Dabbagh’s (Rn) that “Iraq has begun the first step to resolve outstanding problems with Kuwait through the installation of border markers of the land boundary between the two countries, which demonstrates the commitment of Iraq, UN resolutions, stressing that “the Iraqi government is working to activate the Convention on the Unification of fields, joint oil, which could be where a joint investment between the two audit third party, include this step also solve the problem of farm common border in the town of Safwan in Basra province and belonging to farmers Iraqis.”

SOURCED FROM

http://currencynewshound.wordpress.com/2010/12/15/new-international-commitments-after-the-withdrawal-of-iraq-from-chapter-vii/

12-15 CNN: U.N. Security Council ends major sanctions on Iraq

Posted: December 15, 2010 by Justhopin in Iraqi Dinar/Politics
Tags: , , , , , , ,

(CNN) — In what is being called a “milestone” for Iraq’s future, the U.N. Security Council voted Wednesday to free the Baghdad government from sanctions that started during the Saddam Hussein era.

“The adoptions of these important resolutions marks the beginning of the end of the sanctions regime and restrictions on Iraq’s sovereignty, independence and recovery,” Iraqi Foreign Minister Hoshyar Zebari told the council.

“Our people will rejoice for having turned a chapter on the aggressive, belligerent and defiant behavior of the previous regime toward international law and legitimacy.”

One resolution ends the oil-for-food program and another ends sanctions relating to weapons of mass destruction. A third ends the Iraqi Development Fund as of June 30.

The move is a major step for Iraq toward regaining full sovereignty and improving its standing in the international community.

The country will be able to have free and unrestricted international financial and trade dealings and to handle its own oil revenues. And it will be able to start a civilian nuclear power program if it is interested.

U.S. Vice President Joe Biden, who chaired the Security Council meeting Wednesday, praised Iraq’s progress toward democracy and meeting its international obligations.

Biden issued a statement saying the “Security Council welcomes the positive developments in Iraq,” including its forging of democracy, its development, and the performance of security forces.

“Politics has emerged as the dominant means for settling differences and advancing interests,” Biden said.
U.N. Secretary-General Ban Ki-moon called the development a “milestone.”

“Its people have known tremendous hardship,” he said. “They continue to struggle with insecurity and appalling violence. They lack jobs and basic services. But today we recognize how far the country has come
in key aspects of its journey to normalize its status in the community of nations.”

Iraq invaded Kuwait in 1990, triggering the Gulf War. In 2003, the United States led an invasion of Iraq, citing Saddam Hussein’s weapons of mass destruction activities as one of the reasons. But, none of those weapons were discovered.

While Wednesday’s vote ends sanctions imposed on Iraq from the days of the Hussein regime, other differences remain between Iraq and Kuwait.

Zebari said Iraq is committed to settling those unresolved issues bilaterally with Kuwait and his country is “committed to fulfill its remaining obligations” under Chapter 7 of the U.N. sanctions.

“Iraq still has some way to go to resolve all outstanding issues with brotherly, neighborly Kuwait,” he said. “There has been positive cooperation and exchange between our two governments to resolve and settle all pending issues between our two countries, emanating from Saddam Hussein’s aggression and invasion of Kuwait in 1990.”

Unresolved issues include demarcation of the Iraqi-Kuwait border, efforts to locate missing Kuwaitis and third-party nationals, and the resolution of war reparations.

SOURCED FROM

http://currencynewshound.wordpress.com/2010/12/15/cnn-u-n-security-council-ends-major-sanctions-on-iraq/

12-16 UNSC Lifts Iraqi Sanctions ending Oil for Food & Chapter 7 Peace is coming

Wednesday, December 15, 2010

12-15 Bloomberg Iraq’s Economy Boosted by Lifting of UN Trade Restrictions

Iraq’s economic prospects were aided today as U.S. Vice President Joe Biden led the United Nations Security Council in lifting trade restrictions imposed in response to former dictator Saddam Hussein’s 1990 invasion of Kuwait.

The 15-member Security Council, with Biden acting as chairman, voted to adopt three resolutions that ended the trade sanctions, closed the 1990s UN aid program known as oil-for- food, and gave the government in Baghdad six more months’ protection of its oil revenue from potential creditors.

“The Security Council welcomes the positive developments in Iraq,” Biden said in a statement that also was agreed to by the panel. He said the Security Council “recognizes that the situation now existing in Iraq is significantly different from that which existed at the time of the adoption” of the trade sanctions.

The most important resolution for Iraq ended sanctions imposed in 1991 to prevent Hussein from acquiring materials that could be used for chemical, biological or nuclear weapons. While no such weapons were found after the U.S.-led invasion in 2003 toppled Hussein, the sanctions have restricted Iraq’s ability to obtain certain chemicals and other goods needed to develop its agriculture and industry, and to begin a civilian nuclear program.

Oil Revenue

Another resolution protects oil revenue deposited in the Development Fund for Iraq, created in 2003 to pay off debts incurred by the Hussein regime. The fund, held by Paris-based BNP Paribas SA, the world’s biggest bank by assets, has been overseen by the International Advisory and Monitoring Board.

The board will be dissolved and Iraq will take full control of its oil revenue on June 30, 2011. Iraq’s government awarded PricewaterhouseCoopers Jordan a contract in July to audit the fund. PricewaterhouseCoopers Jordan is affiliated with New York- based PricewaterhouseCoopers LLP, the world’s largest professional services organization.

Iraq will continue to be required to deposit 5 percent of its oil revenue in a UN escrow account that is used to compensate victims of the invasion of Kuwait. Iraq must also resolve issues with Kuwait relating to the border, missing persons and Kuwaiti government archives.

The other resolution closed remaining accounts of the oil- for-food aid program, which allowed Hussein’s regime to sell $64 billion worth of oil from 1996 to 2003 to obtain food and medicine. France abstained from the vote on the oil-for-food shutdown; the others measures were adopted unanimously.

Biden has focused on Iraq since the Obama administration took office in January 2009. The U.S., which holds the presidency of the Security Council in December, invited leaders with similar rank to Biden’s to the Security Council meeting.

SOURCED FROM

http://currencynewshound.wordpress.com/2010/12/15/bloomberg-iraq%E2%80%99s-economy-boosted-by-lifting-of-un-trade-restrictions/

Friday, December 10, 2010

9-13 Iraqi Sanctions removed

thanks to my fiancee again

Recent OFAC Actions-09/13/2010
9/13/2010
Page Content

On September 13, 2010, the Office of Foreign Assets Control ("OFAC") removed the Iraqi Sanctions Regulations, 31 C.F.R. Part 575PDF icon, from 31 C.F.R. chapter V, and added the Iraq Stabilization and Insurgency Sanctions Regulations ("ISISR") as new part 576PDF icon to 31 C.F.R. chapter V. The ISISR implement Executive Order 13303 of May 22, 2003, Executive Order 13315 of August 28, 2003, Executive Order 13350 of July 29, 2004, Executive Order 13364 of November 29, 2004, and Executive Order 13438 of July 17, 2007.
SOURCED FROM
http://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20100913.shtml.aspx

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Tuesday, November 2, 2010

11-2 Iraqi Dinar Facts

Thanks to my girlfriend for this
Unverified
The Federal Reserve purchased 17 trillion dollars in Iraqi dinars (RJ's Morning Liberty Show Oct 20 hr 2 around 10 to 20mins)