Sunday, April 18, 2004

U.S. News on the Oil-For-Food Scandal

U.S. News provides further details on the oil-for-food scandal implicating not only the United Nations, but France and Russia as well:
The prospects of the United Nations taking over the transition in Iraq may now be fatally compromised. The world body is caught up in a welter of allegations and evidence suggesting strongly that a noble effort of humanitarian assistance was tainted by greed, bribery, and the most venal kind of power politics. The U.N. was supposed to oversee the oil-for-food program that allowed Saddam Hussein to sell oil and use the proceeds to buy essential food and medicine for the Iraqi people. At least $10 billion, evidently, went into the pockets of political operators.

It is a tribute to the new American-installed democracy in Iraq that an Iraqi newspaper has been in the forefront of exposing the racket and naming the 270 international power brokers who seem to have had their hands in the till. Here's how the scam allegedly worked: Saddam sold oil to his friends and allies around the world at deep discounts. The buyers resold the oil at huge profits. Saddam then got kickbacks of 10 percent from both the oil traders and the suppliers of humanitarian goods. Iraqi bean counters, fortunately, kept meticulous records.

READ MORE.

Kinda makes one think twice about endorsing "unilateral action" in Iraq.

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