Statement by the Chancellor on Iraqi Assets

I have discussed with US Treasury Secretary John Snow how the UK and US are working together to ensure that frozen Iraqi regime funds are returned to the Iraqi people.

Following discussion with the Prime Minister and Cabinet colleagues this morning I can confirm

That the UK is committed to take whatever steps are necessary to ensure the funds frozen in the UK linked to Saddam Hussein and his regime are used for the benefit and welfare of the Iraqi people;
That the UK joins the US in calling upon the world to track down and freeze any remaining funds of the Iraqi regime in line with international obligations;
That the Bank of England has asked all banks in the UK to double-check as a matter of urgency the origin of any Iraqi funds held.

Index of Chancellor's statements