The Iraqi Government has renewed its request to have BNP Paribas made responsible for its role in corruption in the scandal-ridden United Nations' Oil-for-Food programme, following their defeat in the courts in June this year. In a letter dated July 7, Iraq's Ministry of Foreign Affairs and International Cooperation (MOFA) requested that BNP Paribas be held liable for any losses incurred by Iraq as a result of the bank's involvement with
The Iraqi Government has renewed its request to have BNP Paribas made responsible for its role in corruption in the scandal-ridden United Nations' Oil-for-Food programme, following their defeat in the courts in June this year. The programme had been established with the aim to help Iraqis deal with the consequences of an oil embargo first imposed after Iraq's 1990 invasion of its neighbour, Kuwait, and which remained in place for more than a decade until the US-led invasion of Iraq in 2003; throughout the programme's lifespan there were accusations of widespread corruption and abuse of the system.