Security Council resolution 1483 (2003) [on lifting the economic sanctions on Iraq imposed by resolution 661 (1990)]

GEN

Decides that all Member States shall take appropriate steps to facilitate the safe return to Iraqi institutions of Iraqi cultural property and other items illegally removed from the Iraq National Museum, the National Library, and other locations in Iraq; decides that, with the exception of prohibitions related to the sale or supply to Iraq of arms and related materiel, all prohibitions related to trade with Iraq and the provision of financial or economic resources to Iraq established by resolution 661 (1990) and subsequent relevant resolutions, including resolution 778 (1992) of 2 Oct. 1992, shall no longer apply; decides to terminate effective on the adoption of this resolution the functions undertaken by the Secretary-General under the Programme; decides to terminate the Committee established pursuant to paragraph 6 of resolution 661 (1990) at the conclusion of the 6 month period called for in paragraph 16 above; decides that all export sales of petroleum, petroleum products, and natural gas from Iraq following the date of the adoption of this resolution shall be made consistent with prevailing international market best practices; decides further that 5 per cent of the proceeds referred to in paragraph 20 above shall be deposited into the Compensation Fund established in accordance with resolution 687 (1991); decides that, until Dec. 31, 2007, unless the Council decides otherwise, petroleum, petroleum products, and natural gas originating in Iraq shall be immune from legal proceedings against them and not be subject to any form of attachment, garnishment, or execution; decides that all Member States in which there are: (a) funds or other financial assets of the previous Government of Iraq, or (b) funds or other financial assets that have been removed from Iraq shall freeze without delay those funds unless these funds themselves the subject of a prior judicial, administrative, or arbitral lien or judgement, immediately shall cause their transfer to the Development Fund for Iraq; decides to review the implementation of this resolution within 12 months of adoption and to consider further steps that might be necessary.

Adopted 14-0-0, 4761st meeting

7 p.

The Syrian Arab Republic did not participate in the voting.
Issued in: Resolutions and decisions of the Security Council, 1 August 2002-31 July 2003 - S/INF/58 - (SCOR, 58th year).