US plans to seize Iraqi assets worldwide

Funds held worldwide by the Iraqi government will be seized and transferred to the New York Federal Reserve for holding. This includes money held under the names of the Central Bank of Iraq and the State Organization for Marketing Oil.

Source: BBC

The United States has said it will seize all Iraqi assets being held in American banks.

The threat came as Treasury Secretary John Snow launched what he called a "worldwide hunt for blood money".

"The United States calls today upon the world to identif