A memorandum of understanding between Iraq, the UN

Iraq's ambassador to the UN Muhammad al-Douri announced on Sunday evening that Iraq would have signed on Monday ( yesterday) a memorandum of understanding with UN official to extend the oil-for-food agreement for more 6 months. al-Douri added that his government gave him instructions to sign the memorandum of understanding.

Worthy mentioning that the oil-for-food program, permits Iraq to sell oil despite of the sanctions and also putting the revenues in accounts run by the UN.

However, Iraq's crude oil exports average is estimated at 2 million barrels every day or 4% of the daily world demand for oil.

Worthy mentioning that the UN security council last week extended the program and vowed to amend the sanctions by the fall of next June.

On Saturday, Iraqi officials in Baghdad said that Iraq accepts the extension of the program but refuses the attempts to amend the sanctions.