Global loot of Iraq

THE scam of Iraq oil-for-food programme continues to unravel. Going by the shocking statistics unveiled in a report this week, this is easily the biggest scam of our times. Over 2000 firms — some of them prominent multinationals — and movers and shakers spread all over the world availed themselves of the huge booty that belonged to Iraq’s unfortunate people.

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Published: Mon 31 Oct 2005, 9:32 AM

Last updated: Thu 2 Apr 2015, 6:49 PM

While the oil exported by the Iraqi regime outside the oil-for-food programme is estimated to be about $11 billion, kickbacks to the value of $2 billion were paid to hundreds of firms and individuals. Apparently, the former Baathist regime of Saddam Hussein was not the only one to exploit Iraqi people. From the Western multinationals to European and Indian politicians to top UN officials, the whole world appears to have helped itself to Iraq’s vast oil wealth. This is most disgusting and completely unacceptable.

Now that we know the truth and who bled Iraq white, those responsible for this unprecedented global loot must be brought to justice. The UN, whose own officials including secretary-general Kofi Annan’s son are implicated, must initiate the process sooner than later in coordination with the US, the occupying force in Iraq. The least the world can do for Iraqi people is get them justice.

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