Volume 1 - Iraq Watch

aaThe UN was aware of the Jordanian Protocol; consequently, it was not considered illicit. However, it is included inthis section in order to document all the revenue streams Iraq possessed through its trade Protocols and oil sales programs.Figure 17. Iraqi illicit earnings by type, 1991-2003 (million US $). aFigure 18. Kickback earnings calculations.The total value of contracts signed for and deliveredby the UN under the UN OFF program was $31 billion.Based on UN data as of December 2002, 93.7percent of all contracts were signed by Baghdad. TheUN signed the rest for the Kurdish North. Consequently,ISG estimates the value of contracts signedby Baghdad and paid for by the UN over the life ofthe program amounted to $29.047 billion.The earnings from each phase were calculated as apercentage of total UN OFF earnings (See Figure 18).This percent was then applied to total contracts signedby Baghdad and paid for by the UN ($29.047 billion)to obtain an estimate for actual contracts per phase.Iraq earned roughly 10 percent of the contract valueas a kickback so the contract value for each phase wasmultiplied by 10 percent. The phases, which roughly218