WOTS WED 12 8 21 Iraq will leave Chapter VII in early 2022
WOTS WED 12 8 21 Iraq will leave \u201cChapter VII\u201d in early 2022
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\nIraq will leave \u201cChapter VII\u201d in early 2022\n\nThursday - Jumada I 5 1443 AH - December 09, 2021 AD Issue No. [15717]
\nBaghdad: Fadel Al-Nashmi
\nThe Chairman of the Committee of Financial Experts, Dr. Abdul Basit Turki, expected that Iraq will get rid, early next year, of the risk of falling under Chapter VII of the Charter of the United Nations after fulfilling its financial obligations related to compensating the State of Kuwait for the losses it incurred as a result of Iraq\u2019s invasion of it in August 1990. .
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\naccording to Turki, who oversees the committee on Iraqi funds derived from the production and export of petroleum and petroleum products shall be deposited in a sub - account with the reserve Bank Fed in New York, the \xabIraqi Central Bank will repay the full remaining amount of compensation directly, after turning off the automatic deduction\xbb. In an interview with Asharq Al-Awsat, Turki called for "the Ministry of Foreign Affairs and the concerned authorities to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the United Nations Charter completely."
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\nThe Iraqi government intends to pay the last batch of compensation for the Kuwait war, before the end of this year, after depositing, the day before yesterday (Tuesday), more than 207 million US dollars, with the Federal Reserve; As a prelude to removing Iraq from Chapter VII. Turki explained that the Federal Reserve, two days ago, specifically hours after paying the penultimate payment, stopped the \u201cautomatic deduction\u201d from the account of the Iraqi Ministry of Finance with it, in the interest of the Kuwait War Compensation Fund, following a request made by the Central Bank of Iraq.