"which will be submitted to the UN Security Council in the September next"
*Modification of Chapter 7 ~ Iraq wants UNSC to extend immunity for DFI beyond 2010 ...
snip ~
Iraq may need the council to extend the DFI (immunity) beyond December 2010. But even if an extension was not possible, Iraq is making arrangements for beyond December 2010.
The Iraqi Government's decision is that the DFI remains in the US Federal Reserve in New York, under another name, and five percent of the Iraqi oil revenues will continue to be paid to the UN Compensation Fund, as usual, without changes," Al-Bayati told KUNA following the meeting. Ban recommended to the council in his report on the issue last April not to provide immunity to the Fund beyond 2010. UN immunity shields Iraq from its debtors.
"At that time, Iraq will be free to open a Fund anywhere, but the Government decided to keep the Fund in the US Federal Reserve in New York with the same arrangements, including the payment of five percent to the Compensation Fund. But I understand the successor Fund of the DFI will carry another name, since the DFI was a name given by the council," he said.
The Iraqi Ambassador also said that the IAMB will also disappear with the DFI, adding that ... The successor Fund will be monitored by the Iraqi Committee of Financial Experts (COFE).
more ~
snip -_"And demanded that the Iraqi Ministerial Committee all relevant ministries to end what they have with regard to oil for food program in preparation for the completion of the second report of the Commission, "which will be submitted to the UN Security Council in the September next"
Iraq is Nearing the Development of Mechanisms to Protect their Money Abroad ...
Obama continues U.S. immunity from claims to Iraq’s oil dollars (IDF)
