US Issues Threat to Iraq's $50Bn Foreign Reserves in Military Deal
Cockburn, Patrick, The Independent (London, England)
The US is holding hostage some $50bn (25bn) of Iraq's money in the Federal Reserve Bank of New York to pressure the Iraqi government into signing an agreement seen by many Iraqis as prolonging the US occupation indefinitely, according to information leaked to The Independent.
US negotiators are using the existence of $20bn in outstanding court judgments against Iraq in the US, to pressure their Iraqi counterparts into accepting the terms of the military deal, details of which were reported for the first time in this newspaper yesterday.
Iraq's foreign reserves are currently protected by a presidential order giving them immunity from judicial attachment but the US …
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Publication information: Article title: US Issues Threat to Iraq's $50Bn Foreign Reserves in Military Deal. Contributors: Cockburn, Patrick - Author. Newspaper title: The Independent (London, England). Publication date: June 6, 2008. Page number: 28. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.
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