VOL. XXXIX

No. 46

12-August-1996

IRAQ

UN Moves Ahead With Iraq Oil Deal After US Nod Of Approval

The UN can now finally go ahead with the implementation of the Iraqi oil-for-food plan, after the US has at last given its approval for the Sanctions Committee procedures. However, it is still likely to take a few more weeks before the actual export of Iraqi oil can get under way. The markets, surprised by the quick US approval considering that many analysts and traders had predicted that...