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  • Indian FM rejects Iraqi oil-for-food scandal charge

    10/29/2005 1:02:11 PM PDT · by Valin · 4 replies · 386+ views
    Yahoo News ^ | 10/29/05
    Indian Foreign Minister Natwar Singh rejected charges made in the Volcker report that he benefited from deals linked to the United Nations' oil-for-food programme for Iraq. In a statement, Singh also denied any wrongdoing by his ruling Congress party in the 100-billion-dollar programme, which was set up by the UN Security Council amid fears ordinary Iraqis were suffering under international sanctions. The inquiry committee, headed by former US Federal Reserve chairman Paul Volcker, found that Saddam Hussein's regime manipulated the programme to extract about 1.8 billion dollars in surcharges and bribes while an inept UN headquarters failed to exert administrative...