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2002 September 29 Sunday
How Saddam Hussein gets his money

As some of you may know, the oil that Saddam Hussein sells from Iraq goes into UN controlled accounts that are then used to only buy goods that help the Iraqi people. Part of the money is set aside for the Kurdish zone. But the UN can not compel Saddam to spend that money and so part of the money doesn't get spent. Plus, Saddam has found ways to work with buyers to kick back money to him instead of having all the money go to the UN. Of course the money is held in French banks and the French are close to Saddam.

So here's another UN program demonstrating the uselessness of the UN:

Making this picture all the more Enron-like is the extent to which Mr. Annan and his crew have winked at Iraq's gross violations of U.N. agreements, and not only on weapons inspections. The U.N. sanctions on Iraqi oil sales were meant to stop Saddam from diverting oil revenues to his own uses. Instead, they provide a facade of control that is dangerously misleading. Saddam has been getting around the sanctions via surcharge-kickback deals and flat-out smuggling, to the tune of $3 billion a year, according to the dossier released yesterday by Britain's Prime Minister Tony Blair.

Back in May, The Wall Street Journal's Alix Freedman and Steve Stecklow gave a thoroughly documented account of how Iraq "has imposed illegal surcharges on every barrel of oil it has sold, using a maze of intermediaries to cover its tracks." Last week, the Washington-based Coalition for International Justice released an exhaustively researched 70-page report, detailing Saddam's dodges and how this year alone, despite "smarter" U.N. sanctions, he will rake in billions for his "personal treasury." When President Bush on Sept. 12 addressed the U.N., he charged that Saddam has "subverted" Oil-for-Food, "working around the sanctions to buy missile technology and military materials."

The Coalition For International Justice has just released a 70 page report on how Saddam gets his money. See this link for the PDF of Sources of Revenue for Saddam & Sons: A Primer on the Financial Underpinnings of the Regime in Baghdad (434 KB).

Share |      By Randall Parker at 2002 September 29 12:47 PM  Axis Of Evil


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