Kofi Annan’s son admits oil dealing

Times (UK) Online ^ | 1/30/2005 | Robert Winnett and Jonathon Carr-Brown

[1066AD]

January 30, 2005

Kofi Annan’s son admits oil dealing Robert Winnett and Jonathon Carr-Brown

THE son of the United Nations secretary-general has admitted he was involved in negotiations to sell millions of barrels of Iraqi oil under the auspices of Saddam Hussein.

Kojo Annan has told a close friend he became involved in negotiations to sell 2m barrels of Iraqi oil to a Moroccan company in 2001. He is understood to be co-operating with UN investigators probing the discredited oil for food programme.

The alleged admission will increase pressure on Kofi Annan, the UN secretary general, who is already facing calls for his resignation over the management of the humanitarian programme.

The oil for food programme allowed Saddam to sell oil to buy humanitarian supplies under UN supervision. However, it has emerged that the programme was riddled with corruption as Saddam used it to buy influence around the world.

Several senior UN staff are alleged to have profited from the scheme, and the apparent connection between Kojo and the programme has become the subject of intense international scrutiny. Critics claim that Kofi faces a significant conflict of interest if Kojo sought to profit from the discredited scheme.

Initially it emerged that Cotecna, the company awarded the contract to monitor humanitarian supplies imported into Iraq, had previously employed Kojo and paid him fees throughout the term of the oil for food programme.

However, a friend of Kojo’s said: “He has explained to the investigators that his only involvement with Cotecna was in Nigeria and that he knew nothing about the deal in Iraq. He is looking forward to the investigation report being published so that he will be exonerated on this point.”

Potentially more serious is his connections with Hani Yamani, the son of Sheikh Yamani, the wealthy former Saudi oil minister who set up Opec. Kojo acted as a director for Hani Yamani’s company and was a close business associate. The pair represented the coming together of two of the world’s most influential families.

In 2001 Yamani lined up a deal to sell about $60m worth of Iraqi oil to a Moroccan company. The Sunday Times has statements from two close business associates of Yamani who claim that Kojo was involved in the deal.

Kojo is alleged to have travelled to Morocco to help finalise the sale and was present at key meetings. However, the sale was abandoned by Yamani. It is not known if the oil was to have been bought direct from Saddam’s oil ministry or whether a third party was involved.

A friend of Kojo’s said: “He was just trying to do Hani a favour. Believe me, Kojo is as straight as they come. In the end the deal never went through because Hani was trying to make an unrealistic profit.”

Another source, close to Yamani’s business Air Harbour Technologies, said: “Hani Yamani liked to surround himself with the great and the good. Kojo was a very passive executive and I always thought he basically lent his name to the firm. The Annan name obviously has a certain presence when you are putting together deals in Africa.”

Since the Iraqi deal collapsed, Kojo, 31, has set up a company that imports oil to Nigeria from the Balkan states. He is a regular visitor to England, where he was educated, and has a £500,000 flat on London’s King Road. He socialises with other well-known Nigerians, is always impeccably dressed and enjoys the use of a chauffeur-driven Mercedes.

Paul Volcker, the former chairman of the American Federal Reserve, is preparing an interim report on the oil for food programme, due to be published on February 8 or 9. But he is not thought to have any “smoking gun”. However, some US politicians will pore over it for any evidence that might precipitate Kofi Annan’s departure from the UN.

Last week an American charity released a letter signed by 70 Nobel laureates backing Kofi Annan as secretary-general of the UN. The British government have publicly backed Annan’s position although George W Bush’s support has been less forthcoming.

The publication of the Volcker report is unlikely to mark the end of the scrutiny of Kojo’s affairs. Several American prosecutors have launched criminal inquiries into the oil for food programme. John Ashcroft, the US attorney-general, last week refused to reveal whether Kojo would be subpoenaed when questioned. Friends say any such action would be politically motivated.

Yesterday Kojo declined to comment on any alleged involvement in the programme. His London lawyers continued to deny he had any involvement with Yamani’s Iraqi oil deal.

[1066AD]

Volcker's impartiality is now being questioned, don't know if there's merit or whether it's an attempt to discredit his forthcoming report.

[txhurl]

Certainly bookmark and bump THIS.

[hineybona]

Annon is guilty as sin ..Kojy sounds like the name of a circus monkey..The UN needs to be moved to Siberia ..Just my thoughts as I nod out at the comouter here..Almost 3AM in NYC and a long nite on this site ..

[piasa]

How come they named other companies but not the Moroccan one?

[piasa]

However, a friend of Kojo’s said: “He has explained to the investigators that his only involvement with Cotecna was in Nigeria and that he knew nothing about the deal in Iraq.

Riiiight. Cotectna wouldn't do such things, don't bother looking under that rock. Look under someone else's!

</sarcasm>

[DB]

Drip, drip, drip...

[ServesURight]

The UN needs to be moved to Siberia

It'll never happen the RINOs and the RATs love the U.N. too much.

[Bouchart]

"Kofi Annan’s son admits oil dealing stealing"

[L.N. Smithee]

Potentially more serious is his connections with Hani Yamani, the son of Sheikh Yamani, the wealthy former Saudi oil minister who set up Opec.

...aka Sheikh Yamani Maker. : )

[syriacus]

Thanks for posting this, 1066AD. I'm glad to see this story is not being swept under the rug.

[Pro-Bush]

If its true , I already have respect for him. I hate Kofi.

[holden]

Paul Volcker's potential conflict of interest has to do with past associates whom he conceivably might have some incentive to keep from becoming entangled in his investigation. It would indeed be a Rube Goldberg design to imagine a way that it could be seen to exhonerate those against whom he brings evidence of corruption, as if Volcker had some vendetta.

HF

[seppel]

This is typical behavior of African politicians. This sort of thing is common in Africa and NOT considered a crime there, but part of the privilege of power.

There is a culture clash here in that the UN was created by Europeans with protestant ethics but is increasingly run by the third world with more tribal structures and ethics.

This is the bottom line that all those who discount the influence of culture and race will never admit.

[knighthawk]

Kojo Annan has told a close friend he became involved in negotiations to sell 2m barrels of Iraqi oil to a Moroccan company in 2001. He is understood to be co-operating with UN investigators probing the discredited oil for food programme.

No more UN for US-list

If people want on or off this list, please let me know.

[MizSterious]

Interesting...

[Mike Darancette]

Info comes out on Iraq election day. Good way to hide it.

[cyncooper]

Fox News uncovered the Volcker conflict. It's a real problem for his supposed "impartiality" and actually his report is thought to be watered down and now we have motive.

[cyncooper]

Thanks for the ping. It is very interesting, indeed.

[BARLF]

Thanks for the ping knighthawk.

I've been to your home page,returned all misty eyed.

[Calpublican]

Soo-prise! Soo-prise! Soo-prise!