ERBIL, Kurdistan Region – The United Nations Security Council announced on Friday that all measures imposed in the Oil-for-Food program in Iraq had been fully implemented.
“The Security Council removed Iraq from Chapter VII of Oil and Food Program. Hence, Iraq restored its international position and normal status,” said Ahmed Mahjoob, spokesperson of the Iraqi Foreign Ministry.
A statement by the UN Security Council read, among other things, “that the remaining $14,283,565 in the administrative escrow account had been transferred to Iraq.”
In August 1990, comprehensive sanctions were imposed on Iraq following the country’s invasion of Kuwait. A UN proposal was suggested for Iraq to sell limited amounts of oil in order to support the needs of its people. However the proposal was declined by the Iraqi government.
Chapter VII of the UN Charter established the Oil-for-Food program in April 1995 which was implemented in December 1996.
The program was established to “provide Iraq with another opportunity to sell oil to finance the purchase of humanitarian goods, and various mandated United Nations activities concerning Iraq,” according to the UN Security Council.
Iraq was initially able to sell $2 billion of oil every six months, with two-thirds of the monies received to be used to meet humanitarian needs within the country. The amount was raised in 1998 to $5.6 billion every six months, still with two-thirds of the money to be used for humanitarian issues.
As of May 2003 approximately $28 billion worth of equipment and supplies had been used for humanitarian purposes within Iraq through the Oil-for-Food program, including $1.6 billion in oil-related equipment and another $10 billion went towards production and delivery pipelines.
In view of warnings received from the US and UK governments regarding the prospect of war, the program ended and UN personnel were evacuated from Iraq on March 18, 2003.
The Iraqi war began the following day with the bombing of Baghdad.
Amy Tachco, US representative of the UN Security Council praised Iraq’s complete implementation of measures imposed under the Oil-for-Food program.
Stating the country still faced many challenges, she “looked forward to close cooperation internationally and bilaterally in support of Iraq as a federal, democratic and prosperous country.”
