Snip from related article ~ The government has also asked the central bank to open accounts before May 1 to transfer funds from the U.N.-mandated Development Fund for Iraq, or DFI. The DFI, which was set up after the 2003 war to handle oil and other revenues, has been protected against claims by a U.N. resolution that expires on June 30 http://www.zawya.com/story.cfm/sidZW20110302000167
Iraq will open two accounts in the United States for the filing of its oil revenuesBaghdad, Iraq has agreed to open two accounts in the United States for the management of revenues, especially oil, after the closure of the Development Fund for Iraq in June 30, where it deposits all revenues, which had been opened after the U.S. invasion of Iraq in 2003.
And will deposit the Iraqi government in one of these accounts 95% of Iraq's revenues will be deposited in saluting the second account in 5% of revenues in order to pay the compensation awarded to Kuwait for the 1991 war, according to UN Security Council resolutions.
He said government spokesman Ali al-Dabbagh told AFP that "Iraq will be presented proposals which were adopted by the government on Monday evening to the UN Security Council in the first of the month of May next for approval."
"If what has been approved by the United Nations, the plan will come into force on the first of July next," adding that "accounts will be under the protection of the Fed U.S. to avoid imposing more compensation and Sidaran by the Central Bank of Iraq."
These two accounts and will replace the "Development Fund for Iraq," where shall be deposited all revenues from Iraqi oil exports, which opened after the U.S. invasion of Iraq in 2003 based on UN Security Council resolutions.
The Iraqi Council of Ministers requested recently by the Central Bank to open accounts immediately for the transfer of money + the Development Fund for Iraq + before the first of May and the agreement on the mechanism of "specific and transparent," to withhold five percent of compensation approved by the United Nations to Kuwait.
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Iraq will open two accounts in the United States for the filing of its oil revenuesBaghdad, Iraq has agreed to open two accounts in the United States for the management of revenues, especially oil, after the closure of the Development Fund for Iraq in June 30, where it deposits all revenues, which had been opened after the U.S. invasion of Iraq in 2003.
And will deposit the Iraqi government in one of these accounts 95% of Iraq's revenues will be deposited in saluting the second account in 5% of revenues in order to pay the compensation awarded to Kuwait for the 1991 war, according to UN Security Council resolutions.
He said government spokesman Ali al-Dabbagh told AFP that "Iraq will be presented proposals which were adopted by the government on Monday evening to the UN Security Council in the first of the month of May next for approval."
"If what has been approved by the United Nations, the plan will come into force on the first of July next," adding that "accounts will be under the protection of the Fed U.S. to avoid imposing more compensation and Sidaran by the Central Bank of Iraq."
These two accounts and will replace the "Development Fund for Iraq," where shall be deposited all revenues from Iraqi oil exports, which opened after the U.S. invasion of Iraq in 2003 based on UN Security Council resolutions.
The Iraqi Council of Ministers requested recently by the Central Bank to open accounts immediately for the transfer of money + the Development Fund for Iraq + before the first of May and the agreement on the mechanism of "specific and transparent," to withhold five percent of compensation approved by the United Nations to Kuwait.
http://translate.google.com/translate?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://www.babnews.com/inp/view.asp%3FID%3D38111&prev=_t&rurl=translate.google.com
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