Opinion | Editorials

US must help locate Iraqi funds

Gulf News editorial: A serious investigation is needed to find the $18b gone missing after 2003 invasion

  • Gulf News
  • Published: 00:02 June 22, 2011
  • Gulf News

Iraq is facing a number of major issues — namely people's rising frustration with the government, political problems stemming from Prime Minister Nouri Al Maliki's weak leadership and the imminent withdrawal of US troops.

Adding to their woes is missing money that belongs to them. That is, $18 billion of Iraqi oil money that was stolen after the 2003 US-led invasion. Iraq's parliament is now asking the United Nations for help in trying to track down the money.

It's quite astonishing that the US has not been able to locate the missing money, even after three audits. The two countries had signed a legal agreement in 2004 to ensure that the US government would protect the cash. Iraq has chosen to make its case public and go to the UN in the hope of putting pressure on the Americans to find the money.

The US had a duty to safeguard this cash and not being able to answer to the Iraqis is simply unacceptable. It is hoped that a serious investigation is started so Iraq can recover its money.

Gulf News
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