Security Council resolution 986 (1995) [on authorization to import, temporarily, petroleum and petroleum products originating in Iraq, as a temporary measure to provide for humanitarian needs of the Iraqi people]

Authorizes States to permit the import of petroleum and petroleum products originating in Iraq sufficient to produce a sum not exceeding a total of US$1 billion every 90 days for the purposes set out in this resolution; authorizes Turkey to permit the import of petroleum and petroleum products originating in Iraq sufficient to meet the pipeline tariff charges, verified as reasonable by the independent inspection agents for the transport of Iraqi petroleum and petroleum products through the Kirkuk-Yumurtalik pipeline in Turkey; decides that this resolution shall come into force at 00.01 Eastern Standard Time on the day after the President of the Council has informed the members of the Council that he has received the report from the Secretary-General, and shall remain in force for an initial period of 180 days unless the Council takes other relevant action with regard to the provisions of resolution 661 (1990); further decides to conduct a thorough review of all aspects of the implementation of this resolution 90 days after the entry into force of the resolution and again prior to the end of the initial 180 day period; requests the Secretary-General to establish an escrow account for the purposes of this resolution, to appoint independent and certified public accountants to audit it, and to keep the Government of Iraq fully informed; decides that the funds in the escrow account shall be used to meet the humanitarian needs of the Iraqi population and for other purposes; requests the Secretary-General to report to the Council 90 days after the date of entry into force of the resolution and again prior to the end of the initial 180 day period, on whether Iraq has ensured the equitable distribution of medicine, health supplies, foodstuffs and materials and supplies for essential civilian needs.

Adopted unanimously, 3519th meeting

5 p.

Authorizes States to permit the import of petroleum and petroleum products originating in Iraq, as a temporary measure to provide for humanitarian needs of the Iraqi people.