The independent inquiry investigating the United Nations Oil for Food program in Iraq will release a report today that says over 2000 companies paid illegal kickbacks to Saddam Hussein’s regime. This according to the New York Times. The oil for food program was in place from 1996 to 2003, and allowed the Iraqi government to sell oil in exchange for humanitarian goods. The inquiry, headed by former Federal Reserve chairman Paul Vocker, says Hussein made $1.8 billion dollars from oil for food surcharges and kickbacks. That number is dwarfed by the almost $11 billion dollars the report says Hussein made from oil smuggling to U.S. allies Jordan and Turkey, all with the full knowledge of the U.S. government.
Inquiry: Over 2000 Companies Paid Kickbacks to Iraq Regime
HeadlineOct 27, 2005