U.S. Presses Syria to Act on Alleged Saddam Hussein Money

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Monday, December 1, 2003
Author: 
Bruce Zagaris
Volume: 
19
Issue: 
12
491
Abstract: 
During October, 2003, the United States government lobbied Syria to allow them access to accounts possessed by the former Iraqi government and its associates, which they assert amounts to US $3 billion in Syria and Lebanon. Syria has publicly denied that there is any Iraqi money within their country, though they have privately admitted to freezing an unspecified amount of assets. The U.S. fears that this money will be used to finance resistance to coalition forces in Iraq. United Nations Security Council Resolution 1483 requires all countries to seize all assets held by the former Iraqi government and transfer them to the U.S-administered Development Fund for Iraq. The $3 billion, most of which is believed to be in Syria, would represent by far the largest contribution to the Fund.