Iraq: Obama agreed to extend Iraq’s money protection abroad for another year

on the protection of Iraqi funds deposited in banks in America for another year.

The United States' commitment to the protection of Iraq's money and its assets was verified in the strategic partnership agreement signed between Iraq and the United States in 2008.

Washington extend each year the protection for one year at the request of Baghdad in anticipation of starting many lawsuits and claims after lifting the international protection on these funds.

“The minister, Hoshyar Zebari received a reply message during a meeting in Baghdad on Tuesday evening the adviser to the U.S. Department of State , Brett Magrec from his U.S. counterpart, John Kerry,” A statement by the Iraqi Foreign Ministry received by“Shafaq News”.

According to the statement, it was mentioned in the letter that Obama agreed to extend the protection of funds and special Iraqi assets in the United States for one additional year.

The minister Kerry confirmed in the letter that the president's decision to extend the protection for an additional year is “a symbol of our partnership in the strategic framework agreement framework “.

The annually procedure raises the speculation that the Iraqi government look like a person escape from creditors when approaching payment date to seek protection from a strong party able to provide it.

Observers say that the continuation of this situation means dependence of Iraq's money and its assets by the control of another country.

Central Bank of Iraq has justified restoring to the protection by saying that Iraq's money and its assets will be a target of lawsuits and claims, including fake compensation of billions of dollars.

It is worth mentioning that Iraq still pays 5% of crude oil imports to Kuwait after the invasion of the former regime of Kuwait in 1990, followed by international sanctions and resolutions to compensate all those affected by this invasion.