At what point is enough enough?

[Cees Binkhorst]

REPLY TO: D66 at nic.surfnet.nl

Actionable information :).
Iedereen (inclusief Staten en banken) die niet meewerkt wordt de
mogelijkheid ontnomen om transfers van en naar een bank in de VS te
maken.

Groet,

Cees (Die gelukkig geen 'assets' van non-diplomatic sources onder
zich heeft :).

http://money.cnn.com/2003/03/20/news/frozen_assets/index.htm
WASHINGTON (CNN) - The U.S. Treasury Department announced Thursday
the federal government will seize $1.4 billion in Iraqi assets frozen
since the first Gulf War, and use the money for humanitarian aid and
reconstruction in Iraq.

The department also called on Britain, the Bahamas, the Cayman
Islands and other governments and institutions that have an estimated
$600 million in frozen Iraqi assets to do the same.

The announcement by Treasury Secretary John Snow came after President
Bush Thursday issued an executive order confiscating "non-diplomatic
Iraqi government assets in the United States" and authorizing the
Treasury Department to "marshal the assets and to use the funds for
the welfare of the Iraqi people."

In a statement, Bush said he had "determined that such use would be
in the interest of and for the benefit of the United States."

Thursday's confiscation of Iraqi assets is the president's first use
of such power under the U.S. Patriot Act, enacted in the wake of the
Sept. 11 attacks.

The Iraqi assets frozen since the first Gulf War in 1991 are in 18
U.S. banks.

Snow also called on other nations to identify and freeze Iraqi
government assets, saying, "We are directing a worldwide hunt for the
blood money that Saddam (Hussein) and his associates have stolen from
the Iraqi people." A senior Treasury official said there is believed
to be at least $6 billion dollars worldwide and possibly twice that
amount in "corrupted funds" -- including money from "smuggled oil" --
that may be traceable.

"We have reason to believe concealed assets are out there," said the
official. "We plan to make a concerted hunt for that money."

A congressional source briefed on the administration's plans said
there are other Iraqi assets scattered worldwide, and there is
concern that France, Russia, Germany and other nations that are owed
money by Iraq will want to use those assets to repay the debts.

Snow said his department could "take countermeasures and sanctions
against any institution that does not comply with these international
objectives, including cutting off access to the U.S. financial
system."

U.S. officials want other countries and institutions to wire-transfer
the money to the
Federal Reserve Bank of New York for safekeeping.

The congressional source said the administration may have to go
through the United Nations to secure international help in its
efforts.

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