The following information relating to Security Council resolution 986 (1995) -- the "oil-for-food" formula -- was issued on Friday, 24 May, by the Council Committee established pursuant to resolution 661 (1990), which is monitoring the sanctions against Iraq: At its 137th meeting held on 24 May, the Acting Chairman of the Security Council Committee established by resolution 661 (1990) concerning the situation between Iraq and Kuwait, Zbigniew Maria Wlosowicz (Poland), formally introduced the draft procedures, prepared by the Secretariat, to be employed in the discharge of its responsibilities under Security Council resolution 986 (1995). As requested, the head of the Sanctions Branch of the Security Council Affairs Division provided background information and clarified certain provisions of the draft procedures.
The members recalled that the adoption of these procedures is one of the steps described by the Legal Counsel at the last meeting, which would have to be taken in the near future towards the implementation of the resolution. In this connection, the Acting Chairman expressed the hope that the Committee could take prompt action towards adopting the procedures at the earliest possible time. The members thanked the Secretariat for producing a very good basis for their consideration, and decided to meet informally on Tuesday and Wednesday, 28 and 29 May, and to have a formal meeting of the Committee on Thursday, 30 May, in order to continue their work on the draft.
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