By Ali Jawad, Mahmoud Barakat
Iraq on Saturday announced the end of UN sanctions imposed on the country following its invasion of neighboring Kuwait in 1990.
In a statement, the Iraqi Foreign Ministry attributed the abolishment of the UN sanctions after 27 years in place to “diplomatic successes”.
This decision “is an important step in the restoration of Iraq’s natural status and international standing,” ministry spokesman Ahmed Mahjoub said.
The UN Security Council imposed the sanctions on Iraq under Chapter VII and created the oil-for-food program, which allowed the former regime of Saddam Hussein to sell oil in the world market for buying humanitarian needs of its citizens.
Speaking to Anadolu Agency, Iraqi legal expert Tarek Harb said Iraq was effectively removed from under Chapter VII sanctions four years ago.
At the time, he said, Iraq owed $4.6 billion to Kuwait in the form of investments and gas shipments.