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Re: House of Commons Written Answers

--On Fri, May 19, 2000 10:58 +0100 Daniel Blaney <>


> Mr. Hain: 67 per cent. of Iraq's oil revenue is allocated to the UN "oil
> for food" humanitarian programme. With Iraq once again among the world's
> five largest oil producers, and since the passage of resolution 1284, able
> to export unlimited amounts of oil under this programme...

Is this a misleading statement?  In what sense of the word does he mean
> Mr. Hain: The passage of UN SCR 1284 in December 1999 removed the ceiling
> on Iraq's exports under the "oil for food" programme. Together with the
> recent recovery in world oil prices, this has boosted Iraq's oil exports
> back to--if not above--their peak historical level of around $15 billion
> per annum, seen only briefly in 1980. Iraq's Oil Minister has also
> recently announced that Iraq is planning to increase further its oil
> exports by about 700,000 barrels per day which would put Iraq among the
> world's top five oil exporters. This means that an estimated $10 billion
> should be available for the humanitarian programme in Iraq this year. 

In this case, it looks like Iraq genuinely is able to and does export 
large quantities of oil.  In which case, what happens to all that money?

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