A financial and trade embargo was adopted by the UN Security Council in 1990 after the invasion of Kuwait on 2 August 1990 by the military forces of Iraq (see Resolution 661 (1990)).
Recognising and welcoming the efforts made by Iraq to form a government based on the rule of law that affords equal rights and justice to all Iraqi citizens, on 22 May 2003 the Security Council lifted all restrictive measures against Iraq, except for the arms embargo (see Resolution 1483 (2003)). Currently, only specific restrictions apply in the areas of trade in goods belonging to Iraq’s cultural heritage and an asset freeze specifically targeting former Iraqi President Saddam Hussein, his immediate family, and senior officials of his regime.
