Iraq Oil-for-Food Exports to Resume

Oil Minister Amir Mohammed Rashid said Saturday that Iraq expected to resume oil exports under its oil-for-food deal with the U.N. within a week.

Rashid, speaking to reporters after holding talks with Jordanian Energy Minister Mohammed Hourani, also said Iraq’s aid distribution plan was sent two days earlier to U.N. Secretary-General Kofi Annan for approval.

He said Iraq would not start oil exports until Annan approved the plan.

The U.N. humanitarian coordinator in Baghdad, Denis Halliday, said Monday that Iraq had handed him the plan.

The oil pact, which went into effect a year ago, allows Iraq to export $2 billion worth of oil over six months to buy food, medicine and other essentials for Iraqis, suffering under sanctions imposed after Baghdad’s 1990 invasion of Kuwait.

The second phase of the accord ended Dec. 5, and the U.N. Security Council renewed the deal earlier this month.

Rashid said Iraq would give priority in signing oil contracts for the third phase of the deal to friendly countries and companies.

“France, Russia and China will be at the top of the list,” he said.

These three countries advocate an end to the sanctions.