Jordan returns back most frozen assets to Iraq

Jordanian official sources disclosed yesterday that it had returned back the main part of official assets deposited by the former Iraqi regime to the interim Iraqi government in response to a restoration request of almost half billion dollars frozen in Jordan following the collapse of the former regime in Iraq in April 2003.

One source said that the Jordanian government transferred during the past 6 months payments of $ 250 million of left assets after deducting bills for Jordanian traders who exported goods to Iraq according to the oil-for-food agreement.

The process of money transfer to the Iraqi government and the fund for rebuilding of Iraq continues. A decision to this effect was issued at resolution by the UN Security Council in coincidence with lifting the sanctions, three weeks after an announcement made by the US President George Bush in May 2003 to ending main military operations in Iraq.