S/24605 SC

The Security Council, Recalling its previous relevant resolutions and in particular resolutions 706 (1991) and 712 (1991), Taking note of the letter of 15 July 1992 from the Secretary-General to the President of the Security Council on Iraq's compliance with the obligations placed on it by resolution 687 (1991) and subsequent resolutions, Condemning Iraq's continued failure to comply with its obligations under relevant resolutions, Reaffirming its concern about the nutritional and health situation of the civilian population, and the risk of a further deterioration of this situation, and recalling in this regard its resolution 706 (1991) and 712 (1991), which provide a mechanism for providing humanitarian relief to the Iraqi population, and resolution 688 (1991), which provides a basis for humanitarian relief efforts in Iraq, Having regard to the fact that the period of six months referred to in resolutions 706 (1991) and 712 (1991) expired on 18 March 1992, resulting in the failure by Iraq to meet its obligations under relevant Security Council resolutions, Deploring Iraq's refusal to cooperate in the implementation of its obligations under relevant Security Council resolutions, Recalling that the escrow account administered by the Secretary-General will consist of Iraqi funds provided for in resolutions 706 (1991) and 712 (1991) which will be used to pay contributions to the Compensation Fund, facilitating the return of the full costs of Kuwaiti property seized by Iraq, and half the costs incurred by the United Nations in carrying out the tasks authorized by resolution 687 (1991). 0f the Boundary Commission, ana the cost to the United Nations of implementing resolution 706 (1991) ana of other necessary humanitarian activities in Iraq. Recalling that Iraq, direct damages resulting from its invasion and occupation of Kuwait, without prejudice to its debts and obligations arising prior to 2 August 1990, which will be addressed through the normal mechanisms. Iraqi Recalling its decision in resolution 692 (1991) applies that the April 1991, requirement for contributions to the Compensation Fund to certain Iraqi petroleum and petroleum products exported from Iraq before 2 April 1991, as well as all Iraqi petroleum and petroleum products exported from Iraq after 2 August 1990. Acting under Chapter VII of the Charter of the United Nations, 1 Decides that all States in which there are funds of the Government of Iraq or its State bodies, corporations, or agencies that represent the proceeds of sale of Iraqi petroleum or petroleum products, paid for by or on behalf of the purchaser on or after 6 August 1990, shall cause the transfer of those funds provided for (or equivalent amounts) in resolutions 706 (1991) and 712 (1991); provided that funds in this account shall not require any State to cause the transfer of more than fifty percent of the total funds transferred pursuant to paragraphs 1, 2 and 3 of this resolution; and further provided that States may exclude from this paragraph any funds which have already been released to a claimant or any other funds required to satisfy the rights of third parties, at the time of the adoption of this resolution; 2 Decides that all States in which there are petroleum or petroleum products owned by the Government of Iraq, or agencies, shall take all feasible steps to purchase or arrange for the sale of such petroleum products at fair market value to the escrow account provided for in resolution 706 (1991) and 712 (1991) as soon as possible; 3 Urges all States to contribute funds from other sources to the escrow account as soon as possible; 4 Decides that all States shall provide the Secretary-General with any information needed for the effective implementation of this resolution and that they shall take the necessary measures to ensure that banks and other bodies and persons provide all relevant information necessary to identify the funds referred to in paragraphs 1 and 2 or the petroleum products, with a view to the effective implementation of this resolution; information being utilized by all States and by the Secretary-General in the effective implementation of this resolution. 5. Requests the Secretary-General: (a) To ascertain the whereabouts and amounts of the said petroleum and petroleum products and the proceeds of sale referred to in paragraphs 1 and 2 of this resolution, drawing on the work already done under the auspices of the Compensation Commission, and report the results to the Security Council as soon as possible; (b) To ascertain the costs of United Nations activities concerning the elimination of weapons of mass destruction, the provision of humanitarian relief in Iraq, and the other operations specified in paragraphs 2 and 3 of resolution 706 (1991); (c) To take the following actions: (i) Transfer to the Compensation Fund from the funds referred to in paragraph 10 of this resolution; and (ii) Use of the remainder of funds referred to in paragraphs 1, 2 and 3 of this resolution for the costs of United Nations activities concerning the elimination of weapons of mass destruction, the provision of humanitarian relief in Iraq, and the other operations specified in paragraphs 2 and 3 of resolution 706 (1991), taking into account any preference expressed by States contributing funds as to the allocation of such funds among these purposes; 6. Decides that for so long as oil exports take place pursuant to the system provided in resolutions 706 (1991) and 712 (1991) or the lifting of sanctions pursuant to resolution 687 (1991), all proceeds of those oil exports shall immediately be transferred by the Secretary-General in the currency in which the transfer to the escrow account had been made to the accounts of States from which funds had been provided to replace in full the amounts provided (together with applicable interest); and that, if necessary for this purpose, funds remaining in the escrow account shall similarly be transferred to those accounts or States; provided, however, that the Secretary-General may retain and use any funds urgently needed for the purposes specified in paragraph 5 (c) (ii) of this resolution; 7. Decides that the operation of this resolution shall have no effect on rights, debts and claims existing with respect to funds prior to their transfer to the escrow account; and that the accounts from which such funds were transferred shall be kept open for retransfer of the funds in question. 8 , Reaffirms that the escrow account enjoys the privileges and immunities resolution, referred to in this Nations_ attachment, like the including immunity from legal proceedings_ claim any forms of Compensation Funa ,garnishment or body in connection with any action taken in the execution; and that no or shall lie at of the Unitea instance of any person or compliance with Or implementation of this resolution; the escrow account, 9 Requests the Secretary-General under this resolution to the account in any su transferred, transferred to repay, Erom any available funds or State from which it was if the transfer is found at any fortime by him not to have been Of funds subject to this resolution; finding couda be made by the State from which the funds requesta such a were transferred; and petroleum products from Iraq for payment to of petroleum or petroleum the 10 _Confirms that the percentage of the value of exports of petroleum for the purpose of this resolution and exports 692 the Compensation Fund shall, products subject to paragraph 6 of resolution Security Council in paragraph the Compensation Fund(1991) , be the same as percentage decided by the 2 of resolution may (1991) . otherwise; 705 decide until such time as the Governing Council of set forth Decides that no further Iraqi assets shall be released for purposes 11_in paragraph established pursuant to paragraph 320 of resolution 687 (1991) except to the sub-account of the escrow account_ of resolution 712 (1991) , or directly to the United Nations for huanitarian activities in Irag; 12 _ Decides that, 'petroleum products of does not include petrochemical for the purposes this resolution and other relevant resolutions , the term derivatives ; this resolution; 13 _ Calls upon all States to cooperate fully in the implementation of 14. Decides to remain seized of this matter.

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