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Foreign and Commonwealth Office

Answer

Mr. Godsiff: To ask the Secretary of State for Foreign and Commonwealth Affairs whether the coalition administration in Iraq has maintained full income and expenditure accounts in respect of (a) sales of oil generated under the UN Oil for Food programme when it was in operation and (b) subsequent sales of oil on the world market; and if this information will be published. [134992] Mr. Rammell: Maintaining accounts of Iraqi oil sales under the United Nations Oil for Food Programme is a matter for the United Nations. Sales of Iraqi oil on to the world market since the liberation of Iraq have been undertaken by the Iraqi State Oil Marketing Organisation, 95 per cent. of revenues from oil sales have been transferred immediately to the Development Fund for Iraq for use in the reconstruction of Iraq, and 5 per cent. has gone to the United Nations Compensation Commission as required under the terms of UN Security Council Resolution 1483. The accounts of the Development Fund for Iraq are subject to audit by the International Advisory and Monitoring Board (IAMB), comprising representatives of the World Bank, International Monetary Fund, United Nations and the Arab Fund for Social and Economic Development. The IAMB will make public all reports produced under its terms of reference.

Secondary information

Type

Written question

Reference

134992; 413 c1307-8W;413 c1303-4W

Session

2002-03

Subjects

Disclosure of information Audit Accountancy Finance Iraq Food Oil Sales United Nations UN Compensation Commission UN resolutions Reconstruction Development Fund for Iraq International Advisory and Monitoring Board

Link

View this Written question on www.publications.parliament.uk