Introduction

Security Council resolution 1483 – and others that have provided protection to Iraqi oil and gas and related assets – mandates that the international protection established by the resolution be implemented by member states through the adoption of domestic legal enactments. As indicated in Chapter 7, paragraphs 2 and 3 of article 26 of the SOFA between the United States and Iraq stress the U.S. commitment to protecting Iraqi assets through domestic means, and its commitment to doing the same through the UN. Article 26(2) provides in relevant part that “[r]ecognizing and understanding Iraq's concerns with claims based on actions perpetrated by the former regime, the President of the United States has exercised his authority to protect from United States judicial process the Development Fund for Iraq and certain other property in which Iraq has an interest.” Article 26(3) provides, in part, that the “U.S. remains committed to assist Iraq in connection with its request that the United Nations Security Council extend its protections and other arrangements established in Resolution 1483 (2003) and Resolution 1546 (2003) for petroleum, petroleum products, and natural gas originating in Iraq, proceeds and obligations from sale thereof, and the Development Fund for Iraq.…”

The language of article 26(2) speaks in terms of the fact that the President of the United States “has exercised” his authority to protect from U.S. judicial process both the DFI and certain other property in which Iraq has an interest.