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Re: House of Commons Written Answers





--On Fri, May 19, 2000 10:58 +0100 Daniel Blaney <dlb23@hermes.cam.ac.uk>
wrote:

 

 
> 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
"able"?
 
> 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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