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UN OIL FOR FOOD PROGRAM REPORT (what UN is really raking in) 2/22-28/03
The United Nations ^ | 4/03 | UN

Posted on 04/18/2003 9:03:39 AM PDT by GailA

Oil for Food

4 March 2003

Weekly Update (22-28 February)

Iraqi Oil Exports Up – Yield is $370 million for Week With Iraq’s oil exports averaging 1.9 million barrels a day during the week (22-28 February), the daily average under the Oil-for-Food Programme for the month closed 4.6 per cent higher than in January. Exports for the week totaled 13.2 million barrels compared with 11.9 million in the previous week.Total exports for February were 48.50 millions barrels – an average of 1.73 million barrels per day against January’s 1.66 million.

There were eight loadings from the authorized terminals: four from the Iraqi oil platform at Mina al-Bakr (8.0 million barrels) and four from the Turkish Mediterranean oil terminal at Ceyhan (5.2 million barrels). These are the only outlets for Iraqi oil exports allowed under the Oil-for-Food Programme.

Total exports for the week (13.2 million barrels) generated estimated revenue of €345 million (euros) or $370 million, at current prices and rate of exchange. The average price of Iraqi crude for the reporting period was approximately €26.65 or $28.70 per barrel.

UN oil overseers approved five new oil purchase contracts for the week. The current total of approved contracts is 132, covering 347 million barrels of oil. Estimated revenue generated from the beginning of phase Xlll (5 December 2002 – 3 June 2003) at current prices and at the current rate of exchange, stands at almost $4.0 billion for 143.8 million barrels of oil.

Contract Approvals

Of a total 5,876 contracts for humanitarian supplies worth $11.2 billion processed by the United Nations Secretariat under the Goods Review List (GRL) and new procedures under Security Council resolution 1409 (2002), the Office of the Iraq Programme has approved 4,527 contracts worth about $6.9 billion (61.9 per cent in terms of value) after assessment by the United Nations Monitoring, Verification and Inspection Commission (UNMOVIC) and the International Atomic Energy Agency (IAEA) that they do not contain items on the Goods Review List.

Approvals include 1,107 contracts worth almost $2.1 billion that had previously been on hold by the Security Council’s 661 Sanctions Committee. These have now been reviewed by UNMOVIC/IAEA under para 18 of the procedures of resolution 1409 (2002).

Goods Review List

Of the total contracts, 1,095 worth about $3.4 billion (30.6 per cent in terms of value) are on GRL Non Compliant status. UNMOVIC and IAEA will require additional technical information from suppliers to enable final assessments.

So far, 288 contracts worth $1.0 billion have been found by UNMOVIC/IAEA to contain one or more GRL items. Of these, 146 contracts worth $302.7 million have been reviewed by the Security Council’s 661 Sanctions Committee, of which, 30 contracts worth $15.0 million have been approved. Forty three worth $50.9 million, have lapsed because the suppliers have not submitted a petition within 30 working days of the denial. Twenty eight of the 288 contracts, worth $59.3 million, have been rejected because of a “high risk of diversion to military use.” An additional 40 contracts worth $172.4 million have been denied approval by the 661 Committee, pending appeal.

Contracts containing GRL items represent 9.2 per cent, in terms of value, of all applications processed by the UN experts so far.

Humanitarian revenue shortfall

Due to a cumulative oil revenue shortfall dating from phase VIII (9 June - 5 December 2000) through phase Xll of the programme, 2,555 UN-approved humanitarian supply contracts worth some $4.9 billion, currently lack funds. The sectors affected by the revenue shortfall are: food handling ($795 million); agriculture ($770 million); housing ($628 million); electricity ($561 million); food ($466 million); telecommunications and transportation ($452 million); water and sanitation ($414 million); education ($396 million); health ($374 million).

Oil-for-Food Programme The oil-for-food programme was established by the Security Council on 14 April 1995. Some 3.4 billion barrels of Iraqi oil valued at almost $64 billion have been exported under the programme since December 1996. Of this amount, 72 per cent of the total has been allocated towards humanitarian needs nationwide since December 2000. The balance goes to: Gulf War reparations through a Compensation Fund (25 per cent since December 2000); UN administrative and operational costs for the programme (2.2 per cent) and costs for the weapons inspection programme (0.8 per cent).

Since December 1996 about $43 billion worth of humanitarian supplies, including $3.7 billion worth of oil spare parts, have been approved by the 661 Sanctions Committee and the Office of the Iraq Programme. (NOTE FROM GAIL $64 Billion has been taken in where's the rest of the money) Of this amount, almost $26.7 billion worth of humanitarian supplies and equipment have been delivered to Iraq under the Oil-for-Food Programme, including $1.6 billion worth of oil industry spare parts and equipment. An additional $10.2 billion worth of supplies are currently in the production and delivery pipeline.


TOPICS: Foreign Affairs; Front Page News; Government; Politics/Elections
KEYWORDS: food; iraq; oil; oilforfood; un
FYI
1 posted on 04/18/2003 9:03:39 AM PDT by GailA
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To: GailA
Is there a banker here that would know what the interest would be on this Compensation Fund? What would the interest rate on this kind of money be?

It also seems that NO body has been paid from this compensation.

2 posted on 04/18/2003 9:06:24 AM PDT by GailA (Millington Rally for America after action http://www.freerepublic.com/focus/f-news/872519/posts)
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To: Howlin
Ping!
3 posted on 04/18/2003 9:14:02 AM PDT by MizSterious ("The truth takes only seconds to tell."--Jack Straw)
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To: GailA
Last report I read stated that the UN had in its' possession about $21 Billion from this program. No wonder that they don't want to see the sanctions lifted. There are 4,300 DIRECT UN EMPLOYEES working on this program.
4 posted on 04/18/2003 9:15:50 AM PDT by 11B3 (Happiness IS a warm gun.)
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To: GailA
It also seems that NO body has been paid from this compensation.

I believe Kuwait has received some compensation -- that's handled by yet another UN committee of corrupt bureaucrats, as I recall.

What this report doesn't mention is that Saddam was fully in charge of oil sales and food purchases, as well as having authority over the geographic distribution -- no wonder UNICEF supplies were found in Baathist houses, and a locked warehouse full of undistributed food and children's vaccines were found in the starving South.

Considering that there are enough munitions in the country to arm every man, woman and child in Iraq, I wonder how many of those "contracts" approved by the impotent UNMOVIC, and how many UN aid shipments, were a cover for arms shipments?

This program, like the UN, is a travesty.

5 posted on 04/18/2003 9:35:14 AM PDT by browardchad
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To: GailA
See if this helps you understand anything.

I am the last person on EARTH to ask about the money. Perhaps some kind FReeper will come along and explain it to us.

http://www.freerepublic.com/focus/f-news/861683/posts
6 posted on 04/18/2003 10:23:13 AM PDT by Howlin
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To: 11B3
And don't forget, the money is in FRENCH banks!
7 posted on 04/18/2003 10:23:52 AM PDT by Howlin
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To: MizSterious
370 million a week?

And people are starving?
8 posted on 04/18/2003 10:24:11 AM PDT by Howlin
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To: GailA
Who are all those contracts with? I'd like to see a country by country breakdown.
9 posted on 04/18/2003 10:30:28 AM PDT by Shermy
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To: Howlin
Certainly not the people running looting the program.
10 posted on 04/18/2003 10:34:09 AM PDT by MizSterious ("The truth takes only seconds to tell."--Jack Straw)
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To: GailA
The UN states:   "3.4 billion barrels of Iraqi oil valued at almost $64 billion have been exported under the programme since December 1996.."

But then they admit that:   "The UN administrative and operational costs for the programme (2.2 per cent) and costs for the weapons inspection programme (0.8 per cent)."

Acting like some third world, organized crime lord running a loan sharking operation or a protection racket, the UN rakes in a vigorish (mordida) of a quarter billion dollars per year, right off the top.

The UN does not come to the table with clean hands. They have a vested interest in maintaining Saddam and the status quo. In fact, their hands are dripping with the blood of innocent Iraqi's.

--Boot Hill

11 posted on 04/18/2003 11:57:15 AM PDT by Boot Hill
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To: Shermy
Oil, Food and a Whole Lot of Questions

The Oil-for-U.N.-Jobs Program

12 posted on 04/18/2003 12:00:17 PM PDT by GailA (Millington Rally for America after action http://www.freerepublic.com/focus/f-news/872519/posts)
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To: GailA
Whew, that was fast! I was thinking of posting Mewzilla's link and making a template of other story links...got any more??? :)
13 posted on 04/18/2003 12:02:27 PM PDT by Shermy
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To: Shermy
One more

UN deal leaves Iraq Kurds at Baghdad's mercy

14 posted on 04/18/2003 12:19:48 PM PDT by GailA (Millington Rally for America after action http://www.freerepublic.com/focus/f-news/872519/posts)
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To: Shermy
You can run, but you can't hide when FReeper Investigators start looking.....Thank GOD for the internet.
15 posted on 04/18/2003 12:21:34 PM PDT by GailA (Millington Rally for America after action http://www.freerepublic.com/focus/f-news/872519/posts)
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To: GailA
Disarming Iraq: The Lessons of UNSCOM

by James A. Phillips (Heritage Foundation)

Claudia Rosett is a columnist for the Wall Street Journal Europe. Untergeek.com

Oil for Food, Money for Kofi

From the April 7, 2003 issue: A bad program that has outlived its usefulness. by Claudia Rosett 04/07/2003, Volume 008, Issue 29

16 posted on 04/18/2003 12:34:30 PM PDT by GailA (Millington Rally for America after action http://www.freerepublic.com/focus/f-news/872519/posts)
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To: Howlin
You don't supposed old jacques has borrowed big $$ from the banks on the strength of these contracts?
17 posted on 04/18/2003 8:17:58 PM PDT by GailA (Millington Rally for America after action http://www.freerepublic.com/focus/f-news/872519/posts)
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To: GailA
We can only hope, Gail. :-)
18 posted on 04/18/2003 8:29:24 PM PDT by Howlin
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To: GailA
U.N. - weapon of mass corruption
19 posted on 04/22/2003 2:18:25 PM PDT by anniegetyourgun (U.N. = Weapon of mass corruption)
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To: anniegetyourgun
The books need to be examined by an army of forensic accountants. And, for once, I see the need for a bunch of good lawyers: The people of Iraq ought to be filing the mother of all lawsuits to get back the money the UN has stolen from them.
20 posted on 04/22/2003 2:20:38 PM PDT by mewzilla
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To: Howlin
Speaking of French banks, it was Paribas last I knew...
21 posted on 04/22/2003 2:21:23 PM PDT by mewzilla
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To: mewzilla
Something tells me they'll be too busy trying to show their ingratitude to the U.S. and coalition forces instead.
22 posted on 04/22/2003 2:25:29 PM PDT by anniegetyourgun
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To: anniegetyourgun
Here's another link that's hazardous to you health.

And check out this assertion and Hans von Sponeck's response from the link:

"It is an outrage that the Iraqi government wilfully denies food and medicine...".

HvS: Please forgive me if I say that it is an outrage that against your better knowledge you repeat again and again truly fabricated and self-serving disinformation. Why do you ignore UN stock reports which give you the monthly distribution situation and which, verified by UN observers, show for food, medicines and other humanitarian supplies an average of over 90% distributed per month?

Hans von Sponeck, BTW, was the head of Oil for Food after Denis Haliday.

23 posted on 04/22/2003 2:33:32 PM PDT by mewzilla
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To: mewzilla
GGGGRRRRRR.....
24 posted on 04/22/2003 2:40:18 PM PDT by anniegetyourgun
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To: GailA; backhoe
Just for giggles, and since I hadn't seen the link elsewhere yet, here's the UN's official Oil for Food website.
25 posted on 04/22/2003 2:41:08 PM PDT by mewzilla
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To: mewzilla
Well, duh. Didn't look at the link at the top of your post. Thanks for posting it!
26 posted on 04/22/2003 2:42:02 PM PDT by mewzilla
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To: GailA
Sigh...My last response was for you. And now I'm off to get a new brain!
27 posted on 04/22/2003 2:43:00 PM PDT by mewzilla
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To: GailA; All
http://www.freerepublic.com/focus/news/898257/posts
Billions lost with loopholes in the Oil-for-Food programme
times online ^ | 4/22/03
28 posted on 04/22/2003 4:06:14 PM PDT by backhoe (For Evil to prosper, it is only necessary that good men do nothing...)
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To: All

http://www.freerepublic.com/focus/f-news/898264/posts
UN urges Security Council to extend oil-for-food programme to Iraq
Agence France Presse ^ | April 22, 2003
29 posted on 04/22/2003 4:16:28 PM PDT by backhoe
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To: GailA

Time for U.S. to get out!!!
30 posted on 04/24/2004 3:53:18 PM PDT by Smartass (BUSH & CHENEY 2004 - THE BEST GET BETTER)
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