United Nations Security Council Resolution 986

United Nations Security Council Resolution 986

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United Nations Security Council Resolution 986

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Description:
United Nations Security Council Resolution 986, adopted unanimously on April 14, 1995, after reaffirming all resolutions on Iraq and noting the serious humanitarian situation with the Iraqi civilian population, the Council, acting under Chapter VII of the United Nations Charter, established a mechanism whereby Iraqi oil exports would finance humanitarian aid to the country, which later became known as the Oil-for-Food Programme.

The Security Council was convinced of the need as a temporary measure to provide humanitarian assistance to the Iraqi people until the country complied with all relevant Security Council resolutions, including Resolution 687 (1991) which allowed for further measures to be taken concerning sanctions imposed in Resolution 661 (1991).

Provisions

Firstly, countries were authorised to permit the import of petroleum, petroleum products and related financial transactions originating in Iraq for a total sum of up to US$ 1 billion every 90 days, subject to the approval of the Committee established in Resolution 661 and that payments made for oil would be made into the escrow account created by the current resolution. Turkey was permitted to charge fees for using the Kirkuk-Yumurtalik pipeline in its territory. The aforementioned would come into force at 00:01 EST the day after the President of the Security Council announced that he had received a report by the Secretary-General Boutros Boutros-Ghali, with the...
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