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US lifts most remaining sanctions against Iraq
Washington, May 28: The United States has liftedmost remaining sanctions against Iraq as it rushed to clearthe way for an ambitious drive to rebuild the country ravagedby war and decades of misrule under Saddam Hussein.
Washington, May 28: The United States has lifted
most remaining sanctions against Iraq as it rushed to clear
the way for an ambitious drive to rebuild the country ravaged
by war and decades of misrule under Saddam Hussein.
The decision, announced by treasury secretary john snow,
yesterday aims to build on momentum created by the UN Security
Council last week when it unanimously voted to put an end to
13-year-old trade sanctions imposed on Baghdad in the wake of
its 1990 invasion of Kuwait.
"Today`s action represents president Bush`s commitment to
return the Iraqi people to the family of trading nations as
soon as possible," snow said in a statement.
"The US has acted immediately to permit trade between the
United States and a newly liberated Iraq and we call on other
nations to do the same."
A general license issued by the department allows most
trade between US and Iraqi companies and individuals, thus by
and large restoring free commerce between the two nations.
However, trade in arms and in cultural artifacts illegally removed from Iraqi museums in the days following the collapse of Saddam`s regime will remain prohibited, according to the document.
However, trade in arms and in cultural artifacts illegally removed from Iraqi museums in the days following the collapse of Saddam`s regime will remain prohibited, according to the document.
A ban on trade with some senior officials of Iraq`s
former ruling Baath Party will also remain in effect, while
export of dual-use items that could be used in weapons
manufacturing will require a specific license.
Bureau Report