United Nations Security Council Resolution 778
Encyclopedia
United Nations
Security Council Resolution
778, adopted on October 2, 1992, after recalling resolutions 687
(1991), 688
(1991), 692
(1991), 699
(1991), 706
(1991) and 712
(1991), the Council, acting under Chapter VII
, decided to authorise states holding funds from the sale of Iraq
i petroleum to transfer funds to the escrow account
under resolutions 706 and 712, of which 30 per cent would be transferred to the United Nations Compensation Commission
.
The resolution noted that the transfer of funds by a state need not exceed US$
200 million, and may exclude from the operation any funds which have already been released to a claimant or supplier prior to the adoption of the current resolution. It also decided that all states should take steps to purchase or arrange for the sale of Iraqi petroleum
or petroleum products at fair market value and then transfer funds to the escrow account.
The Council then decided that states, including banks and other bodies, should provide the Secretary-General Boutros Boutros-Ghali
with any information needed to ensure effective implementation of the resolution. It also requested the Secretary-General to:
ascertain the whereabouts and amounts of the said petroleum products and the aforementioned proceeds of sale; ascertain the costs of United Nations activities concerning the elimination of weapons of mass destruction
, the provision of humanitarian relief
in Iraq and other operations; transfer no more than 30 per cent of Iraq's annual value of its exports of petroleum and petroleum products to the Compensation Commission; use the remainder of funds for United Nations operations and activities; repay, from any available funds in the escrow account, any sum transferred to the account or State from which it was transferred, if the transfer is found at any time by him not to have been of funds subject to this resolution.
The resolution stated that the operation of the resolution shall have no effect on rights, debts and claims existing with respect to funds prior to their transfer to the escrow account, and that the accounts from which such funds were transferred shall be kept open for retransfer of the funds in question. It also reiterated that the Compensation Commission and escrow account enjoy all privileges and rights of the United Nations, including immunity from legal proceedings.
The resolution was approved by 14 votes to none, with one abstention
from China
.
The above measures raised around US$101.5 million, slightly less than the US$106.5 million the Secretary-General estimated.
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
Security Council Resolution
United Nations Security Council Resolution
A United Nations Security Council resolution is a UN resolution adopted by the fifteen members of the Security Council; the UN body charged with "primary responsibility for the maintenance of international peace and security"....
778, adopted on October 2, 1992, after recalling resolutions 687
United Nations Security Council Resolution 687
United Nations Security Council Resolution 687, adopted on April 3, 1991, after reaffirming resolutions 660, 661, 662, 664, 665, 666, 667, 669, 670, 674, 677, 678 and 686 , the Council set the terms, in a comprehensive resolution, with which Iraq was to comply after losing the Gulf War.The...
(1991), 688
United Nations Security Council Resolution 688
United Nations Security Council Resolution 688, adopted on April 5, 1991, after receiving letters from the representatives of France, Iran and Turkey and expressing its concern over repression of the Iraqi people, including those in Iraqi Kurdistan, the Council condemned the repression and...
(1991), 692
United Nations Security Council Resolution 692
United Nations Security Council Resolution 692, adopted on May 20, 1991, after recalling resolutions 674 , 686 and 687 , as well as taking the report by the Secretary-General, the Council decided to establish the United Nations Compensation Commission to deal with compensation claims resulting...
(1991), 699
United Nations Security Council Resolution 699
United Nations Security Council Resolution 699, adopted unanimously on June 17, 1991, after recalling Resolution 687 and noting the report by the Secretary-General it requested, the Council, acting under Chapter VII, confirmed that the International Atomic Energy Agency and United Nations Special...
(1991), 706
United Nations Security Council Resolution 706
United Nations Security Council Resolution 706 decided on a mechanism to allow Iraq to sell oil in return for humanitarian aid from Member States. The Council, acting under Chapter VII, adopted the resolution on August 15, 1991, after recalling resolutions 661 , 686 , 687 , 688 , 692 , 699 and 705...
(1991) and 712
United Nations Security Council Resolution 712
United Nations Security Council Resolution 712, adopted on September 19, 1991, after recalling resolutions 661 , 686 , 687 , 688 , 692 , 699 , 705 and 706 , the Council, acting under Chapter VII, reaffirmed and discussed provisions of Resolution 706 and called for international co-operation.The...
(1991), the Council, acting under Chapter VII
Chapter VII of the United Nations Charter
Chapter VII of the United Nations Charter sets out the UN Security Council's powers to maintain peace. It allows the Council to "determine the existence of any threat to the peace, breach of the peace, or act of aggression" and to take military and nonmilitary action to "restore international peace...
, decided to authorise states holding funds from the sale of Iraq
Iraq
Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert....
i petroleum to transfer funds to the escrow account
Escrow
An escrow is:* an arrangement made under contractual provisions between transacting parties, whereby an independent trusted third party receives and disburses money and/or documents for the transacting parties, with the timing of such disbursement by the third party dependent on the fulfillment of...
under resolutions 706 and 712, of which 30 per cent would be transferred to the United Nations Compensation Commission
United Nations Compensation Commission
The United Nations Compensation Commission was created in 1991 as a subsidiary organ of the United Nations Security Council. Its mandate is to process claims and pay compensation for losses and damage suffered as a direct result of Iraq's 1990-1991 invasion and occupation of Kuwait...
.
The resolution noted that the transfer of funds by a state need not exceed US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
200 million, and may exclude from the operation any funds which have already been released to a claimant or supplier prior to the adoption of the current resolution. It also decided that all states should take steps to purchase or arrange for the sale of Iraqi petroleum
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
or petroleum products at fair market value and then transfer funds to the escrow account.
The Council then decided that states, including banks and other bodies, should provide the Secretary-General Boutros Boutros-Ghali
Boutros Boutros-Ghali
Boutros Boutros-Ghali is an Egyptian politician and diplomat who was the sixth Secretary-General of the United Nations from January 1992 to December 1996...
with any information needed to ensure effective implementation of the resolution. It also requested the Secretary-General to:
ascertain the whereabouts and amounts of the said petroleum products and the aforementioned proceeds of sale; ascertain the costs of United Nations activities concerning the elimination of weapons of mass destruction
Iraq and weapons of mass destruction
During the regime of Saddam Hussein, the nation of Iraq used, possessed, and made efforts to acquire weapons of mass destruction . Hussein was internationally known for his use of chemical weapons in the 1980s against Iranian and Kurdish civilians during and after the Iran–Iraq War...
, the provision of humanitarian relief
Humanitarian aid
Humanitarian aid is material or logistical assistance provided for humanitarian purposes, typically in response to humanitarian crises including natural disaster and man-made disaster. The primary objective of humanitarian aid is to save lives, alleviate suffering, and maintain human dignity...
in Iraq and other operations; transfer no more than 30 per cent of Iraq's annual value of its exports of petroleum and petroleum products to the Compensation Commission; use the remainder of funds for United Nations operations and activities; repay, from any available funds in the escrow account, any sum transferred to the account or State from which it was transferred, if the transfer is found at any time by him not to have been of funds subject to this resolution.
The resolution stated that the operation of the resolution shall have no effect on rights, debts and claims existing with respect to funds prior to their transfer to the escrow account, and that the accounts from which such funds were transferred shall be kept open for retransfer of the funds in question. It also reiterated that the Compensation Commission and escrow account enjoy all privileges and rights of the United Nations, including immunity from legal proceedings.
The resolution was approved by 14 votes to none, with one abstention
Abstention
Abstention is a term in election procedure for when a participant in a vote either does not go to vote or, in parliamentary procedure, is present during the vote, but does not cast a ballot. Abstention must be contrasted with "blank vote", in which a voter casts a ballot willfully made invalid by...
from China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
.
The above measures raised around US$101.5 million, slightly less than the US$106.5 million the Secretary-General estimated.
See also
- Gulf WarGulf WarThe Persian Gulf War , commonly referred to as simply the Gulf War, was a war waged by a U.N.-authorized coalition force from 34 nations led by the United States, against Iraq in response to Iraq's invasion and annexation of Kuwait.The war is also known under other names, such as the First Gulf...
- Invasion of KuwaitInvasion of KuwaitThe Invasion of Kuwait, also known as the Iraq-Kuwait War, was a major conflict between the Republic of Iraq and the State of Kuwait, which resulted in the seven-month long Iraqi occupation of Kuwait, which subsequently led to direct military intervention by United States-led forces in the Gulf...
- Iraq sanctionsIraq sanctionsThe Iraq sanctions were a near-total financial and trade embargo imposed by the United Nations Security Council on the nation of Iraq. They began August 6, 1990, four days after Iraq's invasion of Kuwait, stayed largely in force until May 2003 , and certain portions including reparations to Kuwait...
- List of United Nations Security Council Resolutions 701 to 800 (1991 – 1993)
- Oil-for-Food ProgrammeOil-for-Food ProgrammeThe Oil-for-Food Programme , established by the United Nations in 1995 was established with the stated intent to allow Iraq to sell oil on the world market in exchange for food, medicine, and other humanitarian needs for ordinary Iraqi citizens without allowing Iraq to boost its military...