VOL. XXXIX

No. 37

10-June-1996

IRAQ

US Government Allows US Companies To Buy Iraqi Oil

The Clinton administration announced on 5 June that American companies will be allowed to participate in commercial transactions with Iraq authorized by UN resolution 986, under which Iraq will be allowed to sell $2bn in oil over a six-month period and purchase humanitarian supplies with the proceeds. The following is the official announcement by State Department Spokesman Nicholas Burns:

"The...