The provisions are quite simple. All funds received by U.N. countries from oil assets in Iraq are to be placed in escrow (up to $200 million each). The funds are then to be used to pay for:
Inspections under the directive by UNSCOM began in May of 1991.
At the conclusion of the Gulf War, and as part of the cease-fire agreement, U.N. Security Council Resolution 687 specified that Iraq was to declare and destroy all weapons of mass destruction, including biological, chemical, and nuclear weapons systems. This includes delivery systems capable of threatening Iraqi neighbors.
The resolution also empowers the United Nations to provide for a means of verifying the compliance (see UNSCR 778 above).
