United Nations Security Council resolution 778, adopted on 2 October 1992, after recalling resolutions 687 (1991), 688 (1991), 692 (1991), 699 (1991), 706 (1991) and 712 (1991), the Council, acting under Chapter VII, decided to authorise states holding funds from the sale of Iraqi petroleum to transfer funds to the escrow account under resolutions 706 and 712, of which 30 per cent would be transferred to the United Nations Compensation Commission.[1]