Cablegate: Iraqi Assets: Dutch Position On Freezing And

This record is a partial extract of the original cable. The full text of the original cable is not available.




E.O. 12958 N/A

REF: a) State 186972 B) State 211439

(U) MinFin officials told us that Finance Minister Zalm sent
the following letter to Secretary Snow in response to
communication in ref A.

Begin Text of Letter

(U) In reply to your letter of 27 June, I would like to
assure you that the Netherlands fully supports the
provisions laid down in United Nations Security Council
Resolution 1483 and is taking steps to implement them in our
legal and financial system.

(U) An EU-regulation recently came into force stipulating
that all funds and economic resources of the previous
government of Iraq and of any public bodies, corporations,
including companies established under private law in which
the public authorities have a majority stake, should be
frozen. Also all funds and economic resources belonging to,
or owned by or held by former president Saddam Hussein,
senior officials of his regime, immediate members of their
families or any legal persons or entities owned or
controlled by these persons should be frozen.
This EU-regulation has now the force of law in the
Netherlands. All financial institutions in the Netherlands
will be informed by the financial supervisors of the new

(SBU) Funds and economic resources that are frozen pursuant
to the EU-regulation mentioned above shall only be unfrozen
for the purpose of their transfer to the Development Fund of
Iraq, under the conditions set out in UNSCR 1483 (2003).
Before funds and other economic resources can be transferred
they will have to be confiscated. At this moment, according
to Dutch law, confiscation of (any) funds is only possible
after a criminal conviction. In order to be able to
confiscate and transfer funds to the Development Fund of
Iraq, new legislation will be drafted which will enable us
to confiscate funds and resources without a conviction of
the owners of the funds.



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