US Launches Financial Offensive against Iraqi Government

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Last updated at: (Beijing Time) Saturday, March 22, 2003

US Launches Financial Offensive against Iraqi Government

The United States has started a new financial offensive against the Iraqi government, pledging to seize assets of Saddam Hussein and the Iraqi government as the fund to rebuild Iraq.

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The United States has started a new financial offensive against the Iraqi government, pledging to seize assets of Saddam Hussein and the Iraqi government as the fund to rebuild Iraq.

US Treasury Secretary John Snow said Thursday that President George W. Bush issued the order to confiscate non-diplomatic Iraqigovernment assets in the United States.

Snow said the United States called upon the world to identify and freeze all the assets of Hussein and the Iraqi government.

The Washington Post reported Friday that the amount of the Iraqi government money frozen in US banks that the United States pledged to seize is 1.4 billion dollars.

The report said that the money, plus an additional 600 million dollars frozen by Britain and 10 other countries, will be used to help defray the costs of rebuilding Iraq after the Iraqi government is toppled.

The financial step against Iraq was another one after all thosemilitary, political, diplomatic and psychological strategies, analysts said.

In order to achieve a quick victory in the Iraq war, the UnitedStates has launched all-round offensives against Iraq apart from the military attacks.

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