Tracking Number: 245818
Title: "US Hails UN Resolution to Seize Iraqi Assets." Statement by Ambassador Edward Perkins describing the UN Security Council resolution passed October 2 seizing Iraq's frozen
oil-related assets to pay for Iraq's Persian Gulf war debts as a "reasonable and proportionate response to Iraq's intransigence." (921002)
Translated Title: EU Elogia resolucion ONU dirigida a encutar bienes Iraquies.; Les E-U
se felicitent de la resolution sur l`Irak. (921002)
Date: 19921002
Text:
U.S. HAILS U.N. RESOLUTION TO SEIZE IRAQI ASSETS
(Text: Perkins Statement) (480) New York -- U.S. Ambassador Edward J. Perkins described the U.N. Security Council resolution passed October 2 seizing Iraq's frozen oil-related assets to pay for Iraq's Persian Gulf war debts as "a reasonable and proportionate response to Iraq's intransigence."
Perkins noted that Resolution 778, passed on a 14-0 vote with China abstaining, provides for the money to be "completely and promptly returned" to the accounts when Iraq begins to sell oil -- either under the council's supervision or when U.N. sanctions against Iraq are lifted.
Following is the text of Perkins' statement: (begin text) Mr. President, Resolutions 706 and 712 created a mechanism to fund U.N. operations mandated by Resolution 687, as well as U.N. humanitarian relief operations in Iraq, from Iraqi oil sales.
Iraq's refusal to accept Resolutions 706 and 712 has prevented its own population from receiving humanitarian relief. Moreover, it has jeopardized the continued operations of the U.N. programs mandated by Resolution 687, which the Security Council instituted as part of its effort to restore peace and security to the region.
The resolution adopted by the Security Council today is a reasonable and proportionate response to Iraq's intransigence. It is based on the unique situation created by Iraq's invasion of Kuwait and grounded on prior Security Council resolutions, including in particular Resolutions 687, 706, and 712.
It borrows Iraqi assets, already identified by the Security Council in Resolution 692 for contributions to the United Nations Compensation Commission to fund the escrow account created by Resolutions 706 and 712. As Resolutions 706 and 712 originally contemplated, the secretary-general will then be able to use these funds to pay for U.N. operations such as the Special Commission, the Compensation Fund, and humanitarian programs.
The humanitarian efforts directly benefit the Iraqi people; and like the other U.N. programs, they were instituted in response to problems Iraq itself created.
It is therefore appropriate, and consistent with Resolutions 706 and 712, to use Iraqi funds to pay for these operations, as well as to pay for the consequences of Iraqi aggression.
The resolution does not prevent Iraq from accepting Resolutions 706 and 712. On the contrary, it provides that if Iraq does so, the Iraqi funds borrowed under this resolution, as well as voluntary contributions to the escrow account, will be completely and promptly returned.
Indeed, the United States hopes that Iraq accepts Resolutions 706 and 712, the sooner the better.
But we firmly believe that the Security Council was right in waiting no longer for Iraq to implement these resolutions. The needs of the Iraqi people, and of the United Nations, required the Security Council to ensure that these critical programs are securely funded. This resolution accomplishes that aim.
(end text) NNNN
File Identification: 10/02/92, TXT504; 10/02/92, EUR512; 10/05/92, AEF109; 10/05/92, LSI103; 10/05/92, NFS160; 10/05/92, EPF108; 10/05/92, LEF105; 10/06/92, AFF210; 10/06/92, NAS282
Product Name: Wireless
File
Product Code: WF
Languages: Spanish; French; Arabic
Keywords: UNITED NATIONS-SECURITY COUNCIL; UNITED NATIONS-US RELATIONS/Policy; PERKINS, EDWARD/Speaker; REPARATIONS/Policy; LEGAL
SEIZURES/Policy; PERSIAN GULF WAR; IRAQ/Economic & Social; PETROLEUM EXPORTATION; IRAQ-US RELATIONS/Policy
Document Type: TXT
Thematic Codes: 1NE; 1UN
Target Areas: EU; AF; AR; NE; EA
PDQ Text Link: 245818; 245991; 246255
USIA Notes: *92100204.TXT
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