HC Deb 25 June 2002 vol 387 c762W
Mr. Beggs

To ask the Chancellor of the Exchequer what assets belonging to Saddam Hussein have been seized and are held by the UK Government; and if he will make a statement. [63552]

Ruth Kelly

The most recent (first quarter 2002) statistical returns to the Bank of England indicate that UK banks' liabilities to Iraq amount to $634 million. These funds are frozen under the terms of Article 3 of The Iraq (United Nations Sanctions) Order 2000. There are restrictions in the Order on the disclosure of details relating to individual accounts. The Government is committed to maintaining UN controls on its international obligations against the Government of Saddam Hussein until Iraq complies with UN Security Council resolutions.

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