The following is an archived copy of a message sent to a Discussion List run by the Campaign Against Sanctions on Iraq.
Views expressed in this archived message are those of the author, not of the Campaign Against Sanctions on Iraq.
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We found your Website. We are looking for support concerning the above-mentioned subject. We feel that there should be a groundswell of concern by all exporters. We have a list of companies that have claims to the US Dept. of Treasury, Office of Foreign Asset Controls (OFAC). The following e-mail was sent on June 3, 2003. You may want to circulate this to others and ask them to contact us. If you have any questions or require further information, please do not hesitate to let us know. Thank you. Sincerely yours, Mario L. Messina CEO Messina Incorporated, Dallas, Texas Subject: Bush Confiscates Exporters' Funds in Blocked Iraqi Bank Accounts This e-mail is being sent to individuals and/or companies that are aware of the situation we have been fighting against for over 13 years. This is about the frozen Iraqi funds in US banks, funds that totaled approximately $1.2 billion when sanctions were put into place, and which grew (with interest added) to over $1.7 billion over 13 years. And, as you may know, an important portion of these funds were placed in the Iraqi bank accounts in the United States to cover contracts and letters of credits for good that Iraqis had purchased. When Iraq invaded Kuwait, the U.S. Government froze the Iraqi bank accounts in the USA. Exporters that had shipped goods to Iraq several months before this period would have been paid if it had not been the fact that their funds were frozen by our government. In other words, an important amount of these funds belong to exporters and no longer belonged to Iraq. The Iraqis had received the goods and the suppliers/exporters were left holding the bag. Many firms went belly-up and jobs were lost. Medium sized firms had a difficult time surviving. Today there still remains a list of claimants with OFAC - a much smaller list than the original list of the early 90's. We have just learned from the US Foreign Claims Settlement Commission that about two weeks ago Bush ordered the liquidation of these funds for use in the redevelopment of Iraq and that there are no longer any funds to pay against exporters' claims. Needless to say, no one should be happy with, what appears to be, another illegal step by Bush. This sets a dangerous precedent. A portion of these funds belong to exporters who have been waiting for over thirteen years for their money. At the present time the US trade imbalance is $500 billion a year. It is obvious we need to improve our exports and encourage our exporters. Yet we find that Bush has stolen their money. This sends a discouraging message to our export community. It is an unfair tax against an important segment of our economy. Our many letters over the years to the President, Congress, etc., urging them to settle with exporters who had claims supported by proper documentation, and the need to protect our export community, were unsuccessful. Bush went into the war against all commonsense. The war cost the US a hell of a lot of money, money we could have spent on our schools, poverty, diseases, etc., but most important, it took a deadly toll on the lives of Americans, British, and Iraqis. Now that Iraq has been destroyed, many companies (I do not have to list them, you know who they are) will benefit from the "rebuilding of Iraq." What a sham. The export community should not be happy with this theft of funds that belong to many exporters. We need to gather support and protest loudly and widely. Your comments and suggestions are most welcome. Sincerely yours, Mario L. Messina CEO MESSINA INCORPORATED 5307 East Mockingbird Lane, LB#64 Dallas, Texas 75206 USA e-mail: Messina.Oilfield.Chemicals@att.net e-mail: Messinamud@aol.com Tel: 1-214-528-7260 • Fax: 1-214-520-9673 QUALITY WORLDWIDE SINCE 1968 - Drilling Mud, Workover & Completion Chemicals & Fluid Systems - Mud Engineering Services - Cement Additives - Stimulation, Production & Refinery Chemicals - Laboratory Testing Equipment (for mud, cement, and stimulation products and fluid systems) Certified ISO 9001:2000 #A1539US Visit Messina's Website for all of our Products and Services: WWW.MESSINA-OILCHEM.COM _______________________________________________ Sent via the discussion list of the Campaign Against Sanctions on Iraq. To unsubscribe, visit http://lists.casi.org.uk/mailman/listinfo/casi-discuss To contact the list manager, email email@example.com All postings are archived on CASI's website: http://www.casi.org.uk