Written question asked by Jim Cunningham (Labour) on Monday, 7 June 2004, in the House of Commons. It was due for an answer on Monday, 14 June 2004. It was answered by Bill Rammell (Labour) on Monday, 14 June 2004 on behalf of the Foreign and Commonwealth Office.

Foreign and Commonwealth Office

Question: To ask the Secretary of State for Foreign and Commonwealth Affairs, what involvement his Department will have in negotiating the use of Iraqi oil assets.

Answer: Mr. Jim Cunningham: To ask the Secretary of State for Foreign and Commonwealth Affairs what involvement his Department will have in negotiating the use of Iraqi oil assets. [177889] Mr. Rammell: United Nations Security Council Resolution (UNSCR 1546) of 8 June 2004 reaffirms the right of the Iraqi people to exercise full authority and control over their financial and natural resources from 30 June 2004. UNSCR 1483 of 22 May 2003 determined that revenue from the sale of Iraq's oil is to be paid into the Development Fund for Iraq (DFI). As determined in UNSCR 1546, upon dissolution of the Coalition Provisional Authority (CPA) on 30 June, funds in the DFI will be disbursed solely at the discretion of the Government of Iraq. DFI funds are to be used in a transparent and equitable manner through the Iraqi budget to benefit the Iraqi people. Before this time, as determined in UNSCR 1483, DFI funds are to be disbursed at the discretion of the CPA, in consultation with the Iraqi Interim Administration.

Secondary information

Type: Written question
Reference: 177889; 422 c711W
Session: 2003-04
Subjects: Iraq Oil Natural resources UN resolutions UN Security Council Development Fund for Iraq
Link: View this Written question on www.publications.parliament.uk