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Envoy says Iraq to sign oil-for-food memorandum
Iraq will sign a Memorandum of Understanding with UN officials on Monday to extend the oil-for-food programme for another six months, Iraqi UN ambassador Mohammed Aldouri said Sunday night.
Iraq will sign a Memorandum of Understanding with UN officials on Monday to extend the oil-for-food programme for another six months, Iraqi UN ambassador Mohammed Aldouri said Sunday night.
''I have been given instructions by my government to sign the Memorandum of Understanding,'' Aldouri told reporters.
The oil-for-food programme allows Iraq to sell oil despite sanctions, with proceeds placed in an account administered by the United Nations. Iraq averages crude oil exports of about 2 million barrels a day, or four percent of the world's daily demand.
The UN Security Council last week extended the programme and pledged to alter sanctions by next June. Iraqi officials in Baghdad on Saturday said Iraq accepts the extension of the oil programme but rejects efforts to alter sanctions, now in their 12th year.
Bureau Report
The oil-for-food programme allows Iraq to sell oil despite sanctions, with proceeds placed in an account administered by the United Nations. Iraq averages crude oil exports of about 2 million barrels a day, or four percent of the world's daily demand.
The UN Security Council last week extended the programme and pledged to alter sanctions by next June. Iraqi officials in Baghdad on Saturday said Iraq accepts the extension of the oil programme but rejects efforts to alter sanctions, now in their 12th year.
Bureau Report