Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: RGinPG who wrote (10431)	2/3/1998 10:22:00 AM
From: pz	Respond to of 95453

Tuesday February 3, 6:59 am Eastern Time Iraq says oil-for-food proposal US political plot LONDON, Feb 3 (Reuters) - Iraq on Tuesday called a United Nations plan to more than double its oil-for-food exchange with Baghdad a political act aimed at stealing Iraqi oil resources. ''The proposal included in the (UN) report stems from American and probably British intentions which aim at stealing more than 50 percent of Iraq's oil resources,'' said a spokesman for the Iraqi Ministry of Culture and Information. The statement was carried by official Iraqi news agency INA and was Baghdad's first reaction to a report to the Security Council by UN Secretary General Kofi Annan recommending the oil-for-food programme be expanded to $5.2 billion from $2 billion over six months. Annan's proposal was ''a political action which has bad intentions,'' INA quoted the Ministry spokesman saying. It aimed at weakening Iraq's campaign to lift the ''unjust embargo'' imposed on Iraq, the spokesman added. But he stopped short of a complete rejection of the proposed improvements to the programme. Oil-for-food allows Iraq to raise funds under strict UN supervision to ease the impact on civilians of the UN embargo imposed after Baghdad's invasion of Kuwait in 1990. Annan's $5.2 billion proposal would give Iraq $3.4 billion for foods, medicine and other humanitarian supplies. The remainder would go for reparations to Gulf War victims and for UN running costs in Iraq. Annan said in his report, which must get Security Council approval, that Iraq was not prepared to discuss improvements to the programme and instead wanted the embargo lifted entirely.

To: RGinPG who wrote (10431)	2/3/1998 10:24:00 AM
From: pz	Respond to of 95453

Wow...SI now has a spell checker as of this morning.