Written question asked by Caroline Spelman (Conservative) on Thursday, 3 July 2003, in the House of Commons. It was due for an answer on Thursday, 17 July 2003. It was answered by Bill Rammell (Labour) on Thursday, 17 July 2003 on behalf of the Foreign and Commonwealth Office.

Foreign and Commonwealth Office

Question: To ask the Secretary of State for Foreign and Commonwealth Affairs, if he will make a statement on the sale of national assets in Iraq by the Coalition provisional administration.

Answer: Mrs. Spelman: To ask the Secretary of State for Foreign and Commonwealth Affairs if he will make a statement on the sale of national assets in Iraq by the Coalition provisional administration. [124313] Mr. Rammell: Since the Coalition Provisional Authority (CPA) took over the administration of Iraq, Iraqi oil has been sold by CPA through the Iraqi State Oil Marketing Organisation in accordance with the terms of paragraph 20 of United Nations Security Council Resolution 1483. Under paragraphs 20 and 21 of this resolution, all revenues from sales of Iraqi oil are deposited into the Development Fund for Iraq, less 5 per cent. which is to be deposited into the Iraq Compensation Fund as established under UNSCR 687 of 1991. No other Iraqi assets have been sold by the CPA.

Secondary information