UN sanctions committee recommends easing sanctions imposed on Iraq
Iraq, Economics, 4/1/1999

A UN expert committee has recommended to alleviate economic sanctions imposed on Iraq with the objective of eliminating the difficulties the Iraqi people suffer.

Chairman of the committee Celso Amorim, Brazil's ambassador to the UN, asserted in the report he submitted to the UN that the UN Security Council should permit foreign companies to invest in the Iraqi oil industry in order to enable Baghdad to buy more foodstuffs and medicine for the Iraqis.

The report stressed that the grave humanitarian condition of the Iraqi people is beyond doubt. In the same context, a high-ranking US official announced that Washington is ready to discuss the recommendations of the committee and to be more flexible in ensuring more humanitarian aid.

Last week the UN committee approved one contract with a British company to export two million barrels of Iraqi light oil to Asia, Europe and the US. In accordance with the oil-for-food program signed with the UN, Iraq was permitted to export oil at a value of US $5.26 billion over 180 days, from November 27, 1998 until May 24, 1999.

But with the recession in exports and the lower oil prices, value of Iraqi oil exports in the current fifth phase are expected to be only US $3 to $3.5 billion.

Previous Stories:
  Iraq, Jordan communicate to establish petroleum line   (3/24/1999)
  Pumping of Iraqi oil to Turkey suspended   (3/23/1999)
  On the Iraqi pipeline through Syria   (3/22/1999)
  UN - Iraq - compensation   (3/19/1999)

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