HC Deb 31 January 2001 vol 362 c245W
Mr. Cohen

To ask the Secretary of State for Foreign and Commonwealth Affairs what the relationship is between(a) Iraq's unutilised oil for food moneys and (b) reparations via the UN Compensation Fund; and if he will make a statement. [147216]

Mr. Wilson

Of the nearly $12 billion in the UN Iraq account as of 19 January 2001, $4.5 billion of "oil for food" revenue remains unallocated by Iraq, depriving its people of much needed humanitarian relief. This money remains available to be spent by Iraq under future phases of the "oil for food" programme. There is no relationship between this money and reparations under the UN Compensation Fund. However, it is worth noting that as a measure to give further support to the Iraqi people, the UN Compensation Commission agreed to reduce from 30 per cent. to 25 per cent. the proportion of revenue dedicated to the UN Compensation Fund under Phase IX of the "oil for food" programme, so releasing more money for food, medicines and other humanitarian relief.