Security Council resolution 1956 (2010) [on termination of the arrangements for depositing into the Development Fund for Iraq proceeds from export sales of petroleum, petroleum products and natural gas]

Decides to terminate, on 30 June 2011, the arrangements established in para. 20 of resolution 1483 (2003) for depositing into the Development Fund for Iraq proceeds from export sales of petroleum, petroleum products and natural gas and the arrangements referred to in para. 12 of resolution 1483 (2003) and para. 24 of resolution 1546 (2004) for the monitoring of the Development Fund for Iraq by the International Advisory and Monitoring Board and further decides that, subject to the exception provided for in para. 27 of resolution 1546 (2004), the provisions of para. 22 of resolution 1483 (2003) shall continue to apply until that date, including with respect to funds and financial assets and economic resources described in para. 23 of that resolution; decides that after 30 June 2011, the requirement established in para. 20 of resolution 1483 (2003) that all proceeds from export sales of petroleum, petroleum products and natural gas from Iraq be deposited into the Development Fund for Iraq shall no longer apply, and affirms that the requirement established in para. 21 of resolution 1483 (2003) that 5 percent of the proceeds from all export sales of petroleum, petroleum products and natural gas shall be deposited into the compensation fund established in accordance with resolution 687 (1991), and subsequent resolutions, shall continue to apply, and further decides that 5 percent of the value of any non-monetary payments of petroleum, petroleum products and natural gas made to service providers shall be deposited into the compensation fund, and that unless the Government of Iraq and the governing council of the UN Compensation Commission, in the exercise of its authority over methods of ensuring that payments are made into the compensation fund, decide otherwise, the above requirements shall be binding on the Government of Iraq.

Adopted unanimously, 6450th meeting

3 p.

"Annex: Letter dated 8 December 2010 from the Prime Minister of Iraq addressed to the President of the Security Council": p. 3.