Sunday, January 16, 2005

U.S. Implicated In The Oil For Food Scandal.

A joint investigation by the Financial Times and the Italian business daily Il Sole 24 Ore, has found evidence that single largest smuggling operation in the oil-for-food scandal was conducted with the knowledge of the US government.

The operation consisted of 14 tankers engaged by a Jordanian entity to load 7 million barrels of oil for $150 million dollars, a third of which went to Iraqi government officials under the Saddam Hussein regime.

The Financial Times and Il Sole 24 Ore has evidence that US and British officials was informed of the smuggling while it was taking place, and permitted it to happen, so that Jordan could build up its oil reserves in the expectation of the Iraq War.

Paul Volcker, the UN official heading up the independent commission to investigate the oil-for-food scandal has confirmed that the US allowed violations of the oil sanctions by Jordan.


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