US embassy cable - 05KUWAIT1860

C O N F I D E N T I A L KUWAIT 001860 
 
SIPDIS 
 
E.O. 12958: DECL: 05/04/2015 
TAGS: ECON, EFIN, PTER, KU, IQ 
SUBJECT: DFI UPDATE FROM MFA LEGAL DEPARTMENT 
 
REF: SECSTATE 59301 
 
Classified By: DCM Matthew H Tueller, reasons 1.4(b) and (d) 
 
1. (C) On May 4, 2005, Econ/C met with Mr. Ghanim Al-Ghanim, 
Director of the MFA Legal Department, to discuss the status 
of the $78 million in frozen Iraqi assets (Reftel) that 
remain at Kuwait's mission to the U.N.  Al-Ghanim confirmed 
that this money has not been transferred to the UNSCR 1483 
Development Fund for Iraq account at the New York Federal 
Reserve Bank.  He said at least one Kuwaiti company had a 
claim against the 1483 funds; he did not know the name of the 
claimant, the size of the claim nor the date it was 
presented.  The MFA will complete its review of the claim in 
the new few weeks, he added.  Al-Ghanim also said it was his 
understanding that Kuwait was prepared to withhold the amount 
of the claim and transfer the balance of the UNSCR 1483 money 
if the GOK found the claim to have enough merit for formal 
adjudication. 
 
2. (U) Baghdad minimized considered. 
 
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Visit Embassy Kuwait's Classified Website: 
http://www.state.sgov.gov/p/nea/kuwait/ 
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LEBARON