No Crony Left Behind
posted by
Clyde
5:52 AM
Bush to veto defense bill after Iraq objects
President George W. Bush intends to veto defense legislation after Iraq objected to a provision that could freeze its assets in the United States if Americans sue the country, the White House said on Friday.
Iraqi officials raised their concerns with U.S. Ambassador Ryan Crocker about 10 days ago and when administration officials took a closer look at the provision they agreed that it could pose "grave financial risk" for Iraq, tying up assets needed for reconstruction, the White House said.
Iraq also discussed with the United States the possibility of pulling its assets, about $20 billion to $30 billion, out of U.S. institutions if the defense policy bill became law, a senior administration official said on condition of anonymity.
"The new democratic government of Iraq, during this crucial period of reconstruction, cannot afford to have its funds entangled in such lawsuits in the United States," White House spokesman Scott Stanzel said.
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