U.S. State Department officials confirmed that just before the start of the U.S.-led war in Iraq, approximately one billion dollars in cash was withdrawn from the Central Bank of Iraq. However, they stated they could not confirm a report by the New York Times that Qusay, one of Saddam Hussein's two sons, orchestrated this action. According to the New York Times, Qusay and one of Saddam Hussein's close associates oversaw the withdrawal of this money in the early hours of March 18. An unnamed Iraqi official stated that the order to withdraw this money from the Central Bank of Iraq was issued by Saddam Hussein himself. U.S. and Iraqi officials have told the New York Times that they do not know what happened to the money or where it went. Nevertheless, some Americans speculate that this money was likely transferred to Syria.
Withdrawal of One Billion Dollars in Cash from the Central Bank of Iraq Before the Start of the War - 2003-05-06
Just before the U.S.-led invasion of Iraq, around one billion dollars was withdrawn from the Central Bank of Iraq, allegedly under the direction of Saddam Hussein's son Qusay. U.S. and Iraqi officials are uncertain about the money's whereabouts, with speculation that it may have been moved to Syria. This event highlights the financial maneuvers of the Iraqi regime prior to the war.
👥 Key Players
📰 What Happened
Before the U.S.-led invasion of Iraq, approximately one billion dollars was withdrawn from the Central Bank of Iraq, allegedly under Saddam Hussein's orders. The whereabouts of the money remain unknown, with speculation that it may have been transferred to Syria.
- The withdrawal occurred just before the start of the Iraq War on March 18, 2003.
- U.S. and Iraqi officials are uncertain about the fate of the withdrawn funds.
💡 Why It Matters
📚 Background
In the lead-up to the Iraq War, Saddam Hussein's regime was under increasing pressure from the U.S. and its allies, leading to desperate financial maneuvers.
🏷️ Entities Mentioned
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