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U.N. council approves spare parts to repair Iraqi oil fields
Iraq-UN, Economics, 6/20/1998
The United Nations Security Council approved on Friday the delivery of spare parts to Iraq for the repair of its oil fields. In a unanimous decision, the council said the purchase of the equipment may be financed with the proceeds from humanitarian oil sales to up to $300 million.
The intention of the council is to enable Iraq to bring its exports up to the $5.2 billion level as authorized for six months by resolution 1153 adopted in February, previously the limit had been $2 billion, Map reported.
Iraq's oil fields have been in disrepair from years of neglect as a result of the trade embargo the council imposed on Iraq in 1990.
The current humanitarian program is based on resolution 986, permitting $2 billion in oil sales over each six-month period. The program took effect in December 1996 and is now in its fourth phase.
Under the resolution, the distribution plan approved by the Secretary-General in May "or any new distribution plan submitted by Iraq and approved by the Secretary-General will remain in effect for each subsequent periodic renewal of the temporary humanitarian arrangements for Iraq."
Previous Stories:
Iraq recognizes borders with Kuwait
(6/17/1998)
Butler meeting with Tariq Aziz today
(6/13/1998)
Great changes for Iraqi ambassadors
(6/11/1998)
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