According to the New York Times, a draft resolution will be introduced in the UN by the US, Britain and Spain on Friday morning. The resolution would lift economic sanctions against Iraq and endorse US and British control of Iraq's political development and financial resources for at least 12 months. Under the resolution, new Iraqi oil revenues and at least $3 billion in the current United Nations-controlled escrow fund would be transferred to a new Iraqi Assistance Fund to be "disbursed at the direction of" the US and Britain — referred to as the "provisional authority" — in consultation with the interim government to be formed in Iraq.

It is seems unlikely that the UN would go along with this resolution because it would give the US free reign to do as it pleases in Iraq. However France and Germany, in a conciliatory mood after the bashing they have been taking from the US, look unlikely to oppose it. Russia's position is that sanctions must stay in place until weapons of mass destruction have been found. On the other hand, Russia may go along in order to recoup some of the $6 billion to $8 billion Iraqi debt owed to Russia. Perhaps these countries see the resolution as an American attempt to create more division in the UN and they want to avoid more international conflict than has already been created over the war.