Security Council Resolution 778 (1992) [on the Proceeds of Sales of Iraqi Petroleum and Petroleum Products]

S/RES/778(1992)View PDF

Who adopted this document and its mandates?

A Resolution of the Security Council, under agenda item 89 The situation between Iraq and Kuwait, published in 1992.

What subjects does this mandate have?

10 subjects

Frozen Assets Funds Iraq Iraq-Kuwait Situation Oil Embargo Petroleum Exports Sanctions Special Accounts War Damage Compensation Weapons of Mass Destruction

What’s in this document?

18 operative paragraphs

Also decides that all States in which there are petroleum or petroleum products owned by the Government oflraq, or its State bodies, corporations, or agencies, shall take all feasible steps to purchase or arrange for the sale of such petroleum or petroleum products at fair market value, and thereupon to transfer the proceeds as soon as possible to the escrow account provided for in resolutions 706 (1991) and 712 (1991);

Urges all States to contribute funds from other sources to the escrow account as soon as possible;

Decides further that all States shall provide the Secretary-General with any information needed for the effective implementation of the present resolution and that they shall take the necessary measures to ensure that banks and other bodies and persons provide all relevant information necessary to identify the funds referred to in paragraphs 1 and 2 above and details of any transactions relating thereto, or the said petroleum or petroleum products, with a view to such information being utilized by all States and by the Secretary-General in the effective implementation of the present resolution;

Requests the Secretary-General:

To ascertain the whereabouts and amounts of the said petroleum and petroleum products and the proceeds of sale referred to in paragraphs 1 and 2 above, drawing on the work already done under the auspices of the United Nations Compensation Commission, and report the results to the Council as soon as possible;

To ascertain the costs of United Nations activities concerning the elimination of weapons of mass destruction, the provision of humanitarian relief in Iraq, and the other United Nations operations specified in paragraphs 2 and 3 of resolution 706 (1991);

To take the following actions:

To transfer to the United Nations Compensation Fund, from the funds referred to in paragraphs 1 and 2 above, the percentage referred to in paragraph 10 below; and

To use the remainder of funds referred to in paragraphs 1 to 3 above for the costs of United Nations activities concerning the elimination of weapons of mass destruction, the provision of humanitarian relief in Iraq, and the other United Nations operations specified in paragraphs 2 and 3 of resolution 706 (1991), taking into account any preference expressed by States transferring or contributing funds as to the allocation of such funds among these purposes;

Decides that for so Jong as oil exports take place pursuant to the system provided in resolutions 706 (1991) and 712 (1991) or to the eventual lifting of sanctions pursuant to paragraph 22 of resolution 687 (1991), implementation of paragraphs 1 to 5 above shall be suspended and all proceeds of those oil exports shall immediately be transferred by the Secretary-General in the currency in which the transfer to the escrow account was made, to the accounts or States from which funds had been provided under paragraphs 1 to 3 above, to the

extent required to replace in full the amounts so provided (together with applicable interest), and that, if necessary for this purpose, any other funds remaining in the escrow account shall similarly be transferred to those accounts or States, provided, however, that the Secretary-General may retain and use any funds urgently needed for the purposes specified in paragraph 5 (c) (ii) above;

Decides that the operation of the present 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;

Reaffinns that the escrow account referred to in the present resolution, like the Compensation Fund, enjoys the privileges and immunities of the United Nations, including immunity from legal proceedings, or any forms of attachment, garnishment or execution; and that no claim shall lie at the instance of any person or body in connection with any action taken in compliance with or implementation of the present resolution;

Requests the Secretary-General to repay, from any available funds in the escrow account, any sum transferred under the present resolution 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 the present resolution; a request for such a finding could be made by the State from which the funds were transferred;

Confinns that the percentage of the value of exports of petroleum and petroleum products from Iraq for payment to the Compensation Fund shall, for the purpose of the present resolution and exports of petroleum or petroleum products subject to paragraph 6 of resolution 692 (1991), be the same as the percentage decided by the Security Council in paragraph 2 of resolution 705 (1991) of 15 August 1991, until such time as the Governing Council of the Compensation Fund may decide otherwise;

Decides that no further Iraqi assets shall be released for purposes set forth in paragraph 20 of resolution 687 (1991) except to the sub-account of the escrow account established pursuant to paragraph 8 of resolution 712 ( 1991 ), or directly to the United Nations for humanitarian activities in Iraq;

Decides that, for the purposes of the present resolution and other relevant resolutions, the term "petroleum products" does not include petrochemical derivatives;

Calls upon all States to cooperate fully in the implementation of the present resolution;

Decides to remain seized of this matter.

Decisions In a letter dated 9 October 1992, the President of the Security Council informed the Secretary-General as follows: 242 "In accordance with the provisions of Council resolution 689 (1991) of 9 April 1991, and in the light of your report on the United Nations Iraq-Kuwait Observation Mission for the period from 1 April to 30 September 1992, dated 2 October 1992,243 the members of the Security Council have reviewed the question of termination or continuation of the Mission, as well as its modalities of operation.

"I have the honour to inform you that the members of the Council concur with your recommendations, in particular that contained in paragraph 27 of your report." In a letter dated 3 November 1992,244 the President informed the Secretary-General as follows:

"The members of the Council have examined the question you brought to the attention of the President through your letter dated 23 September 1992. They fully share the concerns expressed by the Commander of the United Nations Iraq-Kuwait Observation Mission related to the threats to security linked to the presence of Iraqi and Kuwaiti military equipment in six bunkers within the demilitarized zone, near the headquarters of the Mission. The members of the Council deem it necessary, as recommended by the Commander of the Mission, for the bunk'ers to be emptied of their contents.

"The members of the Council have noted that the Mission has carried out, within the demilitarized zone where it is deployed, destruction of mines and ammunition that might be harmful to the observers, as indicated in your report of 5 and 9 April 1991245 on the implementation of paragraph 5 of Security Council resolution 687 (1991) approved by resolution 689 (1991) of9 April 1991, in your report of 2 October 1991246 on the United Nations Iraq- Kuwait Observation Mission for the period from 9 April to 2 October 1991, in your report of 31 March 1992227 on the United Nations Iraq-Kuwait Observation Mission for the period from 3 October 1991 to 31 March 1992, and in your report of 2 October 1992243 on the United Nations Iraq- Kuwait Observation Mission for the period from 1 April to 30 September 1992. They are of the opinion that the military equipment referred to in your letter dated 23 September 1992, which also represents a threat to the security of the members of the Mission, should similarly be destroyed by the Mission or by a specialized company acting upon the request of the Mission and under its supervision.

"In the event of the Mission entrusting a specific company with the destruction of the military equipment contained in the six bunkers, the cost of this operation

of 26 August 1992

Adopted at the 3108th meeting by 14 votes to none,

with 1 abmtntion (Ecuador).

or 2 October 1992

Adopted at the 3117th meeting by 14 votes to none,

with 1 abstention (China).

Who adopted this document and its mandates?

What subjects does this mandate have?

What’s in this document?

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