U.S. Wants to Shut Down UN Controls on Iraq's Oil
So the US appears to be unable to wait any longer to get its hands over Iraqi oil. Not surprising at all.
In the main, the resolution would end U.N. control over the lucrative oil-for-food program. Currently Iraq's oil revenues go into a U.N. escrow fund from which suppliers of food, medicine and a host of civilian goods are paid.
The new measure, according to U.N. diplomats familiar with the U.S. proposal, would create a development fund with oil revenues and give the World Bank and the International Monetary Fund some oversight duties.
The new measure, according to U.N. diplomats familiar with the U.S. proposal, would create a development fund with oil revenues and give the World Bank and the International Monetary Fund some oversight duties.
Comment