VOL. XLIII

No. 45

6 November 2000

IRAQ

UN Approves Iraqi Oil Sales In Euro As Of 7 November

The UN Sanctions Committee has averted a disruption of Iraqi oil exports by agreeing at the last minute on 30 October to allow Iraq to price its crude in euros, despite objections to the decision arising from the fact that the US and the UK do not want Baghdad to set the oil sanctions agenda and that the introduction of a new currency will reduce the revenue of the humanitarian program and complicate the...