VOL. XLV

No 40

7-October-2002

IRAQ

US/UKInsist On Strict Retroactive Pricing Despite Iraqs Lifting of Surcharge

MEES learns that the US and UK have moved the goal posts oncemore, telling the UN sanctions committee on 2 October that they insist that thestrict retroactive pricing system for Iraqi crude exports should continuedespite the fact that Iraq has lifted the surcharge. They have also insisted thatthere will be no return to the proactive pricing system that prevailed beforeDecember 2000 and...