CONFIDENTIAL
050057
MDHOAN 3990
CONFIDENTIAL
FM FCO
TO IMMEDIATE HONG KONG
TELNO 1509
RECEIVER
HKB 020 126
20 AUG 1995
Sk
OF 09184OZ AUGUST 90
INDEX
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TOP COPY
YOUR TELNO 2462: ECONOMIC SANCTIONS AGAINST IRAQ AND KUWAIT
1
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IN PARA 3 OF TUR YOU ASKED FOR CLARIFICATION OF THE POSITION
OF THE KUWAIT PETROLEUM INTERNATIONAL AVIATION CORP (KPIAC). KPIAC IS INCORPORATED IN THE UK AND IS WHOLLY OWNED BY KUWAIT PETROLEUM GB, WHICH IS IN TURN OWNED BY THE KUWAITI PETROLEUM CORPORATION (KPC). THE KUWAITI GOVERNMENT OWNS AND CONTROLS
KPC.
2. THE KPC IS BEING TREATED AS A RESIDENT OF KUWAIT FOR THE
PURPOSE OF THE DIRECTIONS RELATING TO THE FREEZING OF KUWAITI ASSETS (PART 7 OF THE BANK OF ENGLAND NOTICE OF 7 AUGUST). BUT WE UNDERSTAND THAT THE BANK OF ENGLAND ARE CONSIDERING TREATING SUBSIDIARIES OF THE KUWAIT PETROLEUM GB AS RESIDENTS OF THE UK, WHICH WOULD ENABLE PAYMENTS TO A KPIAC ACCOUNT IN LONDON TO BE MADE QUITE LEGITIMATELY. THIS MATTER IS BEING CONSIDERED URGENTLY AT A SENIOR LEVEL IN THE BANK BUT NO FINAL DECISION HAS BEEN TAKEN.
WE WILL REVERT AS SOON AS POSSIBLE. IN THE MEANTIME WE SEE NO REASON WHY YOUR CURRENT ARRNGEMENTS FOR MAKING PAYMENTS TO KPIAC'S LONDON ACCOUNT SHOULD NOT CONTINUE.
HURD
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27
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NEWS D
MR MCLAREN
MR BURNS
1
CONFIDENTIAL
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