UN: Iraqi revenues from current oil-for-food phase $742 million

55 of 82 contracts for the sale of Iraqi oil within the oil-for-food program had been approved by December 21, 1999, Fred Eckhard, the spokesman for the United Nations secretary general, said yesterday. He added that revenues thus far in the seventh phase of the program have reached $742 million.

Eckhard said that the secretariat is studying the plans for distribution of humanitarian goods purchased within the program. The distribution plan must be approved by Secretary General Kofi Annan before humanitarian supplies can be purchased with funds from the current phase of the oil-for-food program.