No 4

28 January 2002


UN Oil-For-Food Program Grosses$50Bn, But Hit By Implementation Obstacles, Oil PriceSlip

Theoil-for-food program, the largest humanitarian project in the UNs history, hasgenerated $50.5bn in gross revenues from the sale of over 2.86bn barrels ofIraqi oil from its inception during the five-year period from 10 December 1996 up to 18 January 2002. It is aimed at offsetting the hardship of sanctions,brought against Iraq after itsinvasion of Kuwait, on the 22mnIraqi...