US seizes $1.62bn in Iraqi assets

The US has seized $1.62 billion in Iraqi assets and will use the money to rebuild the country once the conflict has ended.

Source: Associated Press

The Bush administration has seized $1.62 billion in Iraqi assets already frozen in the United States and will use the money to help rebuild the country once Saddam Hussein is ousted, a top Treasury Department official said Thursday.

The department's general counsel, David Aufhauser, provided updated figures that follow up an initiative from Presiden