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12/02/2004

What happened to Iraq’s oil money?

Former U.S. official says billions of dollarswere ‘squandered’

After the U.S. invasion of Iraq, the United States took control of all of the Iraqi government’s bank accounts, including the income from oil sales. The United Nations approved the financial takeover, and President Bush vowed to spend Iraq’s money wisely. But now critics are raising serious questions about how well the United States handled billions of dollars in Iraqi oil funds.
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