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UN to end Saddam-era sanctions on Iraq

Desert Medic

By Desert Medic,
in Iraq & Dinar Related News

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Desert Medic
Desert Medic

UN to end Saddam-era sanctions on Iraq Security Council will lift international penalties mainly dating from Saddam's invasion of Kuwait. Middle East Online By Pierre-Antoine Donnet - UNITED NATION

FishMan1969
FishMan1969

All the GURU's will be put to the test within the next 36 hours in regards to Ch 7, RV, DFI, etc. TIME will TELL and if the GURU's are correct, I will applaud them. If they are wrong, it narrows the

firefighter_218546
firefighter_218546

Well alrighty than,,, I have the Iraqi crud today and have the day off.. This is a great pick me up.. I would like to leave this sand box asap.. GO RV God Bless you all.....

lone star Newbie

lone star

Posted
Posted

Ok, it appears that this will lift two of the major sanctions (Oil for Food, and the WMD) but probably leave the requirement for Iraq to pay the additional $22 billion to Kuwait (funded by the 5% charge on Iraqi oil sales), right?

If this is correct, will Iraq's frozen assets in foreign banks be freed up now, or must Iraq wait for the Kuwait issues to be fully resolved? (i.e. the $22 billion remaining reimbursement, demarcation of land and maritime borders, and the missing persons issues)

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caz1104 Newbie

caz1104

Posted
Posted (edited)

All the GURU's will be put to the test within the next 36 hours in regards to Ch 7, RV, DFI, etc.

TIME will TELL and if the GURU's are correct, I will applaud them.

If they are wrong, it narrows the number of preachers the congregation will listen to from that moment on.

Lets see who is right, and who is wrong.

unsure.gifunsure.gif Everyone waits for the answers to long waited questions, with baited breath.

I agree. I hope the thought that the RV has to happen before chapt 7 is released is correct, cuz the santions may be the only leverage the world has on Iraq to get off their ******.............................................................GO RV 2010 BABY!!!! p.s. thanks for the post

Edited by caz1104
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RVDinar4MyFamily Newbie

RVDinar4MyFamily

Posted
Posted

UN sanctions are what made the IQD worthless. So, the release from sanctions will have to allow the rise in value of the IQD!!!

Yes and No...it was the sanctions that led to the devalue of the dinar, but it was not the sanctions that directly stated that Iraqs currency will be devalued

here is a good economic discussion paper from the Federal Reserve Bank of Boston, it is from 2004 and a long read, but just put currency in the find window and read the currency reform section and other parts that come up for currency, it will give you good back ground of the dinar.

http://www.bos.frb.org/economic/ppdp/2004/ppdp0401.pdf

Ok, it appears that this will lift two of the major sanctions (Oil for Food, and the WMD) but probably leave the requirement for Iraq to pay the additional $22 billion to Kuwait (funded by the 5% charge on Iraqi oil sales), right?

If this is correct, will Iraq's frozen assets in foreign banks be freed up now, or must Iraq wait for the Kuwait issues to be fully resolved? (i.e. the $22 billion remaining reimbursement, demarcation of land and maritime borders, and the missing persons issues)

yes, the frozen assets should be freed up with this resolution, the kuwait issues do not affect this. The DFI fund will still continue for 6 months until the successor mechanism required for Iraq to set up takes over.

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michelneedsRV Newbie

michelneedsRV

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Posted

Well I guess they think the gov is formed enough to lift chap 7 , RV could play the same. Only time will tell Tommorrow will be the judging factor!cool.gif

The worrying factor for me in the whole article is this quote..

Iraq had wanted an extra year of UN protection for the DFI against creditors. The United States and Britain wanted the fund to come to an end on December 31, but agreed to a six month extension because of the recent political crisis in Iraq.

This actually means that US and britian wants the DFI to be awarded to iraq ASAP, but iraq does not want the DFI as of now and wants to delay for another 6 months to 1 years, which clearly means no RV for another 6 months to 1 year? I'm pretty confused at that quote in the article.

Hope it's not the case to be.

MichelneedsRV.

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RVDinar4MyFamily Newbie

RVDinar4MyFamily

Posted
Posted

This actually means that US and britian wants the DFI to be awarded to iraq ASAP, but iraq does not want the DFI as of now and wants to delay for another 6 months to 1 years, which clearly means no RV for another 6 months to 1 year? I'm pretty confused at that quote in the article.

Hope it's not the case to be.

MichelneedsRV.

you got it backwards, Iraq is the one who wants the DFI fund extended to protect them from creditors, they had asked for 1 yr extension, but only got 6 months, The US and Britan did not even want to give them that. This is a good thing, it will extend the immunities that protect Iraq and is what Scooter was talking about that needed to be done when the sanctions are lifted.

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sortarius Newbie

sortarius

Posted
Posted

Ok, it appears that this will lift two of the major sanctions (Oil for Food, and the WMD) but probably leave the requirement for Iraq to pay the additional $22 billion to Kuwait (funded by the 5% charge on Iraqi oil sales), right?

If this is correct, will Iraq's frozen assets in foreign banks be freed up now, or must Iraq wait for the Kuwait issues to be fully resolved? (i.e. the $22 billion remaining reimbursement, demarcation of land and maritime borders, and the missing persons issues)

Unless I am totally off base here, they cant leave them as is until the additional $22 billiion is paid...look how long its taken for the first $30! We may all stroke out if that is the case!

My guess is that they will simply make Iraq continue paying 5% of their revenue until the 22 bil is paid, but not put everything on hold until then.

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drox Newbie

drox

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Posted (edited)

When I was a little boy I remember getting picked up from school and hearing on the radio that Sadat was assassinated. Then I remember the hostages being taken in Iran and choppers going down in a failed rescue attempt. I remember Middle East problems, bickering, bombs, and failed attempts at peace talks ever since. I remember rumors that this is probably where World War III would eventually occur.

RV aside for the moment. I am so proud of all of the men and women that have fought and continue to fight for peace in the Middle East and abroad. The lifting of Ch. 7 sanctions will be symbolical of delivering sovereignty to Iraq and truly towards the Middle East. To put a democracy, smack dab in the middle, of one of the most unconscious places the world has ever seen is unbelievable. I am happy that the Iraqi's will have a chance to see what freedom and opportunity tastes like and that it does not come for free or without sacrifice. Lets hope it is contagious. I am happy that the world has a another stepping stone and the chance to make the world a better place. This is a monumental event in the history of the world when you think about it. Lets hope it can be a tipping point for all good things to flow from. Yes... even your RV. ;)

Edited by drox
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