VOL. XL

No. 41

13-October-1997

IRAQ

Marc Rich Denies Sale Of Iraqi Crude To Israel

Oil trader Marc Rich has strongly denied a recent report in MEES (29 September)- attributed to "market sources" - to the effect that it had sold a cargo ofIraqi Basrah Light to Israel. In this connection, a statement faxed to MEES by Mr.L.W. Grimes of Marc Rich Investment Ltd. had the following to say:

"A comment appeared in the 29th September edition of Middle EastEconomic Survey regarding a cargo of Iraqi crude...