Central Bank: the protection of oil revenues, blocking the road in front of creditors
20/05/2011 20:24

Baghdad, May 20 (Rn) - The Central Bank of Iraq that the U.S. decision on the protection of Iraqi funds, particularly oil revenues deposited with the Federal Bank that would block the way for trade creditors.

The central bank adviser said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "it's the U.S. presidential on the protection of Iraqi funds, particularly oil revenues for the whole year provided a good opportunity for Iraq to search for legal mechanisms to prevent any risk of the money deposited in foreign banks."

He pointed out that "bridge to the road in front of the claim that they are creditors of Iraq!"

Saleh added that "This decision will prevent any prosecution of Iraq by the creditors or in conflict with certain reservations lawsuit filed by the banks in Iraq where his money from oil revenues."

He said the Central Bank of Iraq in April 9 last that Iraq will use the IMF to end the file of commercial debt after the end of the Trusteeship internationalism on Iraqi funds in June.

On 6 March the past emphasized the central bank said that Iraq follow the high-level political economic repayment of the debt they did not encounter legal problems.

Revealed the Iraqi Finance Ministry on the seventh of January last, the work of the Committee to Protect Iraqi funds abroad would be a secret to avoid fictitious companies which Iraq claims it requests funds.

The former Iraqi president Saddam Hussein ordered the invasion of Kuwait in 1990, with the effect that imposed sanctions on Iraq from the international community and put under Chapter VII, which makes it a country threatening world peace and security.

Included international sanctions prevented the import of chemicals and nuclear technology that could be used in a secret nuclear programs, chemical and biological weapons.

Has allowed the United Nations in 1995 for Iraq to sell oil in return for food, called "oil-for lunch."

Allonan of Jafar, the Open: Murtaza Yousuf

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