Iraq oil money retains US protection

American immunities still protect Iraqi money held in U.S., but expiration of U.N. sanctions leaves other assets vulnerable to reparations and debt claims.
Iraq oil money retains US protection
Iraqi Foreign Minister Zebari takes his seat before the start of a high-level United Nations Security Council meeting at UN headquarters December 15, 2010 in New York City. The Security Council is taking steps to restore Iraq's international standing by lifting sanctions including those that barred the country from obtaining a civilian nuclear program. On July 1, 2011, Iraq was officially free of UN sanctions restricting its oil revenues. (MARIO TAMA/Getty Images)

Iraq is now free from U.N. Security Council sanctions for the first time in more than two decades – both a measure of the country's progress and a harbinger of the challenges that accompany full sovereignty."This arrangement has come to an end," said Iraqi Foreign Minister Hoshyar Zebari, who has orchestrated Iraq's gradual fiscal liberation "to give Iraq its full freedom to manage its resources."It's a double-edged sword. Iraq is no longer bound by international restrictions and over...

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