Fouad Hussein announces Iraq's exit from Chapter VII

[8th ID]

I thought they were out of chapter vii already..

[screwball]

boom!!!!!! jan and feb will be great months......jeez just when all those gurus said we were free!!!!!

[3 bucks new rv rate]

just wonder how many dinar holders will buy up more dinars?

[Mary B]

Iraq leaves “Chapter VII” in early 2022 and an urgent step for the US Federal regarding Kuwait’s compensation Time: 12/09/2021 

  

{Political: Al Furat News} The Chairman of the Committee of Financial Experts, Abdul Basit Turki, expected that, at the beginning of next year 2022, Iraq will get rid 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 the regime’s invasion. Saddam Hussein in August 1990.

According to Turki, whose committee oversees the Iraqi funds derived from the production and export of oil and petroleum products and deposited in a sub-account with the Federal Reserve Bank in New York, "The Central Bank of Iraq will pay the entire remaining amount of compensation directly, after stopping the automatic deduction."
In a press statement, Turki called for "the move of 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 Charter of the United Nations completely."
The 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 US 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 “automatic deduction” 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.
He noted the need for the forthcoming decision to provide for "protecting Iraq from any claims related to the Kuwait war compensation, whether it is individual claims or filing lawsuits related to compensation," calling for "the cancellation of all decisions that resulted from the Kuwait war."
The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait.
Iraq stopped making payments in 2014 during the war on ISIS terrorist gangs that controlled large parts of the country, but it resumed payments in 2018.

https://alforatnews.iq/news/العراق-يغادر-الفصل-السابع-مطلع-2022-وخطوة-عاجلة-للفيدرالي-الأمريكي-بشأن-تعويضات-الكويت

[yota691]

Iraq leaves “Chapter VII” in early 2022 and an urgent step for the US Federal regarding Kuwait’s compensation

•  Time: 12/09/2021 08:58:04
•  
•  Reading: 2,535 times

  

{Political: Al Furat News} The Chairman of the Committee of Financial Experts, Abdul Basit Turki, expected that, at the beginning of next year 2022, Iraq will get rid 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 the regime’s invasion. Saddam Hussein in August 1990.

According to Turki, whose committee oversees the Iraqi funds derived from the production and export of oil and petroleum products and deposited in a sub-account with the Federal Reserve Bank in New York, "The Central Bank of Iraq will pay the entire remaining amount of compensation directly, after stopping the automatic deduction."
In a press statement, Turki called for "the move of 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 Charter of the United Nations completely."
The 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 US 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 “automatic deduction” 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.
He noted the need for the forthcoming decision to provide for "protecting Iraq from any claims related to the Kuwait war compensation, whether it is individual claims or filing lawsuits related to compensation," calling for "the cancellation of all decisions that resulted from the Kuwait war."
The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait.
Iraq stopped making payments in 2014 during the war on ISIS terrorist gangs that controlled large parts of the country, but it resumed payments in 2018.

[yota691]

PR/2021/6 26

October 2021

 

PRESS RELEASE UNITED NATIONS COMPENSATION COMMISSION PAYS OUT US$490 MILLION

 

 

Today, the United Nations Compensation Commission made available $490 million to the Government of the State of Kuwait towards the Commission’s remaining claim with an outstanding award balance. The United Nations Compensation Commission is a subsidiary organ of the United Nations Security Council. It was established in 1991 in accordance with Security Council resolutions 687 (1991) and 692 (1991) to process claims and pay compensation for losses and damages incurred by individuals, corporations, Governments and international organizations as a direct result of Iraq’s invasion and occupation of Kuwait (2 August 1990 to 2 March 1991). The Commission received approximately 2.7 million claims and concluded its review of all claims in 2005. Approximately $52.4 billion was awarded to over 100 Governments and international organizations for distribution to the successful 1.5 million claims in all claim categories. Successful claims are paid from the United Nations Compensation Fund which receives a percentage of the proceeds generated by the export sales of Iraqi petroleum and petroleum products. This rate was set at five per cent under Security Council resolution 1483 (2003) and reaffirmed in subsequent resolutions. Pursuant to Governing Council decision 276 adopted in November 2017, the percentage was set at 0.5 per cent for 2018, 1.5 per cent for 2019 and 3 per cent for 2020. The rate will remain at 3 per cent until such time as the outstanding compensation has been paid in full. Payments are made on a quarterly basis utilizing all available funds in the Compensation Fund under Governing Council decision 267 (2009). With today’s payment, the Commission has paid $51.8 billion, leaving approximately $629 million to be paid towards the outstanding claim. This category E claim was submitted by the Government of the State of Kuwait on behalf of the Kuwait Petroleum Corporation and awarded $14.7 billion in 2000 for oil production and sales losses as a result of damages to Kuwait’s oil field assets. It represents the largest award by the Commission.

[yota691]

Washington stops the automatic deduction of Iraqi oil revenues to compensate Kuwait

 

Pratha News Agency 48 2021-12-09

http://burathanews.com/storegefiles/579f079690b0a.jpg

The Chairman of the Committee of Financial Experts, Abdul Basit Turki, revealed today, Thursday, that the US Federal Reserve has stopped the automatic deduction from Iraqi oil revenues in favor of Kuwait’s compensation.

Turki said in a press interview, "The Committee of Experts received a notification from the Central Bank of Iraq and the Compensation Committee, stating that the US Federal Reserve had stopped the deduction."

Pointing out that "a final batch of Kuwait's compensation amounting to 43 million dollars remains to be paid through the Central Bank of Iraq in one go, so that Iraq will end these compensations in full, which amount to 52.38 billion dollars."

And he indicated that Iraq should seek to get out of the provisions of Chapter VII of the UN Charter.

Turki called for "the Ministry of Foreign Affairs and the concerned authorities to move to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely."

The 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, in the compensation account with the US Federal Reserve, to end the compensation file completely.

The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $ 52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait.

Iraq stopped making payments in 2014 during the war on ISIS, the terrorist organization that took control of large parts of the country, but it resumed payments in 2018.

[mally2]

Just now, yota691 said:

Washington stops the automatic deduction of Iraqi oil revenues to compensate Kuwait

 

Pratha News Agency 48 2021-12-09

http://burathanews.com/storegefiles/579f079690b0a.jpg

The Chairman of the Committee of Financial Experts, Abdul Basit Turki, revealed today, Thursday, that the US Federal Reserve has stopped the automatic deduction from Iraqi oil revenues in favor of Kuwait’s compensation.

Turki said in a press interview, "The Committee of Experts received a notification from the Central Bank of Iraq and the Compensation Committee, stating that the US Federal Reserve had stopped the deduction."

Pointing out that "a final batch of Kuwait's compensation amounting to 43 million dollars remains to be paid through the Central Bank of Iraq in one go, so that Iraq will end these compensations in full, which amount to 52.38 billion dollars."

And he indicated that Iraq should seek to get out of the provisions of Chapter VII of the UN Charter.

Turki called for "the Ministry of Foreign Affairs and the concerned authorities to move to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely."

The 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, in the compensation account with the US Federal Reserve, to end the compensation file completely.

The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $ 52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait.

Iraq stopped making payments in 2014 during the war on ISIS, the terrorist organization that took control of large parts of the country, but it resumed payments in 2018.

 

 

As anyone who has been on this ride for several years can attest, we've all thought this was it before. Im feeling that again, great news in this article and thread. Thx Yota

[DoD]

Good Morning yota and thanks for the great news…along time coming 

[Half Crazy Runner]

So, if they leave Chapter VII, can their currency become internationally accepted again..? 

[nannab]

HCL and Article 140 next and we are so done!!!!!!!!!!

Can't wait to say IRAQ WHOOOOOOOO?????

[cutter73]

1 hour ago, nannab said:

HCL and Article 140 next and we are so done!!!!!!!!!!

Can't wait to say IRAQ WHOOOOOOOO?????

Mine will be Iraq and work...WHOOO

[Longtimelurker]

Wow! U.S combat forces leaving Iraq returning iraqs sovereignty and Iraq leaving chapter 7... We are watching our currency revaluation/reinstatement take place in front of our eyes.. Exciting times for the Iraqis and dinar investors!!!

[screwball]

4 hours ago, nannab said:

HCL and Article 140 next and we are so done!!!!!!!!!!

Can't wait to say IRAQ WHOOOOOOOO?????

they dont need HCL......this is old law written by BUSH and his company bearing point. its amendements to Naitional Law we want and this have been done just waiting on final vote on amendment

[screwball]

4 hours ago, Half Crazy Runner said:

So, if they leave Chapter VII, can their currency become internationally accepted again..? 

yep

[screwball]

8 hours ago, yota691 said:

the Ministry of Foreign Affairs and the concerned authorities to move to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely."

boom!

[nannab]

Even better     Thank you screwball!!!!! 

We're in the money now  🎵  cha cha cha

 

31 minutes ago, screwball said:

they dont need HCL......this is old law written by BUSH and his company bearing point. its amendements to Naitional Law we want and this have been done just waiting on final vote on amendment

 

[Laid Back]

“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 Charter of the United Nations completely."

 

 Paying off Kuwait will remove Iraq remaining chapter VII sanctions, then 

Iraq will move to an open market economy and the dinar is going to be international recognized. 
 

Go Kuwait payoff 

Go open market economy 

Go international recognized Iraqi dinar

Go purchasing power 

 

 

 

[DoD]

Laid Back, if these articles are correct it appears they could actually pay off the Kuwaiti debt before the end of this year. 
That would certainly set the stage for a January monetary reform event to happen…

[southbeach]

Bump

[Fairways&Greens]

Thanks to Mary B and yota691! This is exciting news.
 

I’ve said recently that so much is lining up for Iraq right now and I predict the value of the Dinar will increase soon. I’m no guru and I don’t have any contacts or special knowledge. Just followed this site since 2008. Thanks to all who dig and post for our benefit!

[Longtimelurker]

3 hours ago, DoD said:

Laid Back, if these articles are correct it appears they could actually pay off the Kuwaiti debt before the end of this year. 
That would certainly set the stage for a January monetary reform event to happen…

They confirmed in one or two of the articles that the remaining 47 million would be paid off before end of year👍

[screwball]

54 minutes ago, Longtimelurker said:

They confirmed in one or two of the articles that the remaining 47 million would be paid off before end of year👍

yep they did...now lets look for either the delete zeros articles or denial articles

[horsesoldier]

Well now....SUPER DOOPER BIG NEWS RIGHT HERE !!!!!

 

Holy Smoke & a Golly Wally right at the end of the year. Hmmm, timing is everything right now and more & more of the pieces of the massive puzzle are being put into place.

[3 bucks new rv rate]

i would like to hear from Adam's opinion about this great article.