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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Douglas V. Fant who wrote (20433)4/26/1998 4:50:00 PM
From: Lazlo Pierce  Read Replies (1) of 95453
 
From the LA Times today
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Sunday, April 26, 1998
Iraqi Excess Undercuts Bid to End Sanctions
Persian Gulf: As U.N. prepares to debate easing embargo, diplomats describe Hussein's lavish palaces. Malnutrition and shortages can be traced to inefficiency and repression as well, observers say.
By ROBIN WRIGHT, CRAIG TURNER, Times Staff Writers
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WASHINGTON--As Iraq this week tries to persuade the United Nations to lift economic sanctions punishing the country, Iraqi leaders are facing a growing public relations dilemma: New indications of lavish spending by Iraqi President Saddam Hussein and his inner circle undercut their claim that the embargo has brought severe hardship.
ÿÿÿÿÿThe sanctions come up for review at the U.N. on Monday, and they are expected to be renewed because Iraq has not destroyed all of its weapons of mass destruction, as required under the cease-fire agreement that ended the Persian Gulf War in 1991.
ÿÿÿÿÿAlthough the debate will focus on compliance with the weapons requirements, some allies view the suffering caused by the sanctions as a reason to try to ease the embargo.
ÿÿÿÿÿEight years after the U.N. imposed the toughest sanctions ever slapped on any nation, Iraq has lost an estimated $115 billion in oil revenue. Iraqi leaders argue that the sanctions are responsible for food shortages, malnutrition and premature deaths.
ÿÿÿÿÿTo be sure, the sanctions have taken an enormous toll on the Iraqi people. Yet Western diplomats and experts on the region say that many other factors are also responsible, including government inefficiency, domestic repression, ethnic discrimination--and spending by Hussein on such comforts as new presidential palaces, which envoys were given access to for the first time this month.
ÿÿÿÿÿInside the compounds, envoys found palaces featuring imported marble, posh furnishings and elaborate landscaping--all paid for during the period the sanctions have been in effect.
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For the rest latimes.com

Dave
For the rest
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