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Cablegate: Iraqi Assets: Transfering Assets Frozen in The

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

UNCLAS THE HAGUE 000746

SIPDIS

SENSITIVE

STATE FOR EB/ESC/TFS(GLASS/SALOOM), IO/PHO, L/EB

TREASURY FOR WALLWORTH AND ZARATE

E.O. 12958 N/A
TAGS: ETTC EFIN IZ NL
SUBJECT: IRAQI ASSETS: TRANSFERING ASSETS FROZEN IN THE
NETHERLANDS TO THE DEVELOPMENT FUND FOR IRAQ

REF: A) STATE 36435 B) HOLLIDAY-KUSHNER E-MAIL OF 2/5/04 C)

STATE 19363 D) 03 THE HAGUE 2674 E) 03 State 291321

1. (SBU) Dutch authorities are preparing a Ministerial
decree that will allow them to confiscate Iraqi assets
frozen in the Netherlands. This decree should be
promulgated within the next 90 days and will apply to assets
of the former regime that are already frozen and any that
have not yet been discovered. The decision to effect
confiscation through Ministerial decree represents a change
in position: previously, the GONL had maintained that new
legislation would be required.

2. (SBU) Until promulgation of this decree, Dutch financial
authorities still believe they can transfer funds from
frozen accounts to the DFI with the permission of the
account holders. In practice, this has proven more
difficult than expected. Transfer of approximately 18,000
euro from a Rasheed Bank account (note: ref e identifies
this as a Rafidain account; however, ref b and Dutch
authorities indicate it is a Rasheed account) held by
Commerzbank (Nederland) has been delayed by an interregnum
in Commerzbank management (a key official recently died.)
and non-receipt by Commerzbank of the original Rasheed Bank
letter requesting transfer (ref b). The situation is being
sorted out. Dutch officials confirm that ABN Amro account
41.79.82.992 referenced in ref a was lawfully closed several
months ago. They also confirm that the Dutch Central Bank
holds 1000 euro in of Iraqi Central Bank Funds and that
approximately 4,000 euro in Rafidain funds are also frozen
in the Netherlands (possibly also at Commerzbank).

Sobel

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