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Handing over Saddam's assets.

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Fonction News

Switzerland expects to hand over assets linked to the former dictator, Saddam Hussein, to the Iraqi authorities within the next few months.

The funds were frozen last year after the United Nations imposed further sanctions on the Iraqi government.

Among the assets frozen in July, some belonged to the 55 most-wanted members of Saddam's regime and their families.

In November the Swiss authorities also blocked bank accounts belonging to the Iraqi Central Bank, Iraq Airways, the Iraqi Reinsurance Company and two other banking institutions.

Othmar Wyss, head of export and sanction control at the State Secretariat for Economic Affairs (Seco), said that only a few million Swiss francs had been blocked, mostly belonging to Iraqi banks.

A new sanctions committee set up by the UN in November could identify more hidden assets in the months ahead.

Its mission is to identify individuals and...

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