Details revealed on oil-for-food kickbacks

Date: 28 Oct 2005

2,200 companies have been accused of paying $1.8 bn in illicit payments to Saddam Hussein's government as part of the United Nations oil-for-food program by an independent report produced by a UN committee.

According to the report, the Iraqi government followed a policy of favouring France and Russia, for following policies deemed to be more 'friendly' to the regime. Companies from different countries tried to reposition themselves with appropriate connections to be able to benefit from the trade.

Companies that are alleged to have paid special surcharges to the regime are named in the report. DaimlerChrysler is alleged to have paid $7,000, and Volvo Construction Equipment paid $317,000. One third of the total oil exported ended up with Russian companies, such as Lukoil and TNK.

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