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Iraq is finally emerging from Chapter VII bankruptcy, giving it full control over its economy, its currency, and its oil production. Iraq has met its requirement to pay compensation to Kuwait for invading the country in 1989. So now it may appeal to the UN to be removed from the restrictions imposed by Chapter VII since 1991.
The Chairman of the Committee of Financial Experts, Abdul Basit Turki, revealed today, Thursday, that the US Federal Reserve has stopped the automatic deduction from Iraqi oil revenues in favor of Kuwait’s compensation.
Turki said in a press interview, “The Committee of Experts received a notification from the Central Bank of Iraq and the Compensation Committee, stating that the US Federal Reserve had stopped the deduction.”
Pointing out that “a final batch of Kuwait’s compensation amounting to 43 million dollars remains to be paid through the Central Bank of Iraq in one go, so that Iraq will end these compensations in full, which amount to 52.38 billion dollars.”
And he indicated that Iraq should seek to get out of the provisions of Chapter VII of the UN Charter.
Turki called for “the Ministry of Foreign Affairs and the concerned authorities to move to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely.”
For a common sense commentary on this, see here:
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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