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

To: jbe who wrote (21244)	5/3/1998 7:43:00 PM
From: nick nelson	Read Replies (1) \| Respond to of 95453

Interesting 'twist' out of Baghdad khaleejtimes.com BAGHDAD - An Iraqi newspaper said yesterday that oil contracts signed with Russian and Chinese companies should instead go to US firms, which can pressure President Bill Clinton to end UN sanctions on Iraq. Iraqi newspapers said that Russia, China and France, which have traditionally had lucrative trade ties with Iraq, had done little to prevent the UN Security Council from prolonging the sanctions on Monday. The weekly newspaper Al Mustaqbal (The Future), owned by President Saddam Hussein's eldest son Uday, called on the Iraqi government to cancel oil contracts signed last year with Russian and Chinese companies and grant them to American firms. "We should cancel contracts, which in fact have not been implemented yet, with Russia and China and suspend talks with the French to sign new contracts and start negotiations with those who can twist (US President Bill) Clinton's neck," the paper said in reference to US oil firms. Another paper owned by Uday, Babel, echoed the same theme in a front-page editorial. "Promises of some of the big (superpowers) that they would work for the implementation of paragraph 22 (lifting embargo on Iraq's oil export) were absent during the recent meeting of the Security Council," it said. Babel, Iraq's most influential newspaper, said some member states of the council had not called for lifting the sanctions for the fear that it would be vetoed by the United States. Iraq last year signed contracts with Russian and Chinese firms to help develop large oilfields in southern Iraq. Mustaqbal said: "The recent review of the sanctions imposed on Iraq for more than seven years has proved that France, Russia and China are unable to do anything to break the embargo. "We should wash our hands from the idea that these three big powers ... can help us to break the embargo," it added. - Reuters