Abrogation of Chapter VII of UN Charter will boost investment

ARBIL / IraqiNews.com: Bringing Iraq out of Chapter VII of he UN Charter will open the door to foreign investments in the country, a UN affairs coordinator in the Kurdistan Regional Government Kurdistan RegionG) said on Tuesday. “This will enable Iraq to conclude international contracts and to enter into partnership with any country,” Dindar Zebari told IraqiNews.com. UN Security Council Resolution 678 was the legal authorization for the Gulf War, which was passed on 29 November 1990. It gave Iraq an opportunity to withdraw from Kuwait by 15 January 1991 and authorized UN member states in cooperation with the government of Kuwait to use “all necessary means to uphold and implement” Chapter VII of the UN Charter, which authorizes the use of force to restore peace. Chapter VII of the United Nations Charter sets forth the powers of the UN Security Council to maintain peace. It allows the council to “determine the existence of any threat to the peace, breach of the peace, or act of aggression” and to take military and non-military action to “restore international peace and security.” The United Nations Security Council on Monday unanimously voted to extend arrangements for depositing the proceeds from sales of petroleum, petroleum products and natural gas into the Development Fund for Iraq and to review all resolutions pertaining to Iraq from 1990. SS (P) 1