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UN lifts all remaining sanctions from Iraq

Dec 15, 2010

"The U.N. Security Council on Wednesday lifted sanctions that prohibited Iraq from pursuing a civilian nuclear program, in a symbolic step to restore the country to the international standing it held before Saddam Hussein's 1990 invasion of Kuwait.

"This is a big announcement. A new day for Iraq," a State Department official told FoxNews.com."


Another article . . .

"BAGHDAD / Aswat al-Iraq: U.S. Vice President Joseph Biden said on Wednesday that the United Nations Security Council decided to cancel all sanctions imposed on Iraq after invading Kuwait in 1990."


My Comment:

From other news sources, it appears that last Saturday the political stalemate was resolved and the various parties agreed to their new ministerial positions in the government.


Two weeks ago, Prime Minister Maliki said this would happen between Dec. 10 and 15, and it appears that he succeeded.

We reported earlier also that the UN was going to meet on Dec. 15 (today) to discuss Iraq. They removed all the remaining sanctions upon Iraq. Though "chapter vii" was not mentioned by name, it was the most important sanction lifted today.

Another news report says that Iraqi government officials will meet face to face with the UN officials shortly.

Maliki says that he will formally announce the new government on December 23.

So when will the Iraqi dinar actually be revalued and plugged into the IMF so that it can be traded world wide? Well, it appears that most (if not all) of the hurdles have been cleared, so perhaps it could happen at any time. I do not know if this will happen before or after the formal presentation of the government on December 23rd, but it appears that the long wait is nearly over.

Dinars are still being offered for sale. This could change at any moment without prior notice, but I suspect that we could have a week or two before this revaluation occurs.

Meanwhile, Brother Vinnie can still obtain dinars, so he is still offering them. In an email he sent me today, he writes:

If you want to order more please call me, (850) 255-1000.  I will need you to overnight Cashier's checks or wires to expedite orders.  Please don't expect me to hold your dinar while you mail a check.  I am trying my best to see everyone gets dinar.  Please work with me.

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Category: News Commentary
Blog Author: Dr. Stephen Jones