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Iraqi Dinar Buzz Updates

Zebari En Route to Security Council Meeting
2010-12-14 16:13:02

Erbil, Dec.14 (AKnews) – An official said the Iraqi foreign minister, Hoshyar Zebari will lead the delegation to New York for the UN Security Council’s meeting Wednesday to discuss the possibility of removing the UN sanctions imposed on Iraq.

The meeting is to expand on the “progress” Iraq has made both in terms of government formation as well as the “significant” steps that have been taken to terminate its chapter VII obligations.

Chapter VII of the UN Charter, which is invoked in case of threats to international peace and security, can open the door to sanctions or even military action. The crippling sanctions, including an economic embargo and the freezing of Iraqi funds ion international banks, were imposed on Baghdad after Iraqi forces under Saddam Hussein order invaded Kuwait on August 2, 1990.

Citing to AKnews, Lubaid al-Abawi the deputy foreign minister said the foreign minister will head to New York for the due assembly. In earlier accounts to the agency the deputy had said Iraq has so far reimbursed 30 billion U.S. Dollars of war damages to Kuwait and left with $22 billion debt to the country.

Iraq has repeatedly urged the Council to lift the sanctions, particularly those concerning war reparations.

Highlighting the Iraqi part’s commitment on “punctual” reimbursements, the official urged lifting the UN sanctions on the country.

The Security Council’s meeting will be chaired by the United States Vice President Joe Biden and attended by the UN Secretary General Ban Ki-moon.