U.N. Security Votes to Seize Part of Frozen Iraqi Assets

On October 2, 1992, the United Nations Security Council voted to use frozen Iraqi assets to pay for humanitarian relief, victim compensation, and other U.N. expenses of handling the aftermath of the Persian Gulf War. The vote on the resolution was 14 to 0, with one abstention. Prior resolutions of the Security Council have tried to raise funds for the same purposes through forcing Iraq to sell oil, with the proviso that approximately one-third of the income would be placed in a U.N. escrow account…[more]