Iraq once again controls own economy, free of UN sanctions
Iraqis await promising foreign investments and a political and economic opening to the world now that the UN has lifted decadeslong sanctions imposed after Iraq invaded Kuwait.
BAGHDAD — The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.
The Iraqi Foreign Ministry said Dec. 9 the country had completed its obligations under the sanctions, which were imposed in 1990 when dictator Saddam Hussein invaded Kuwait. The UNSC levied the penalties after naming Iraq a threat to international security and ordered it to pay reparations to states and other parties that suffered as a result of the invasion.
Some 27 years later, Iraq is still suffering the effects of the invasion. Hisham al-Rukabi, the head of Vice President Nouri al-Maliki’s press office, told Al-Monitor that the Iraqi people welcomed the recent UN decision.
Saad al-Hadithi, the spokesman for Prime Minister Haider al-Abadi, said the move is “an important event in Iraq’s recent history and the closing of a painful [age] that lasted a long time, during which the Iraqi people suffered reduced sovereignty as well as political and economic sanctions that damaged the country’s institutions as well as individuals.”
