UPSTREAM OIL--IRAQ SENDS A WARNING - CERA Alert ,
 Title: Iraq and the United Nations
URL(s):
http://www20.cera.com/eprofile?u=35&m=2467

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Iraq's cutoff of its UN-sanctioned oil exports on June 4 is a signal of its
opposition to changes under consideration by the Security Council.

*  The Security Council decided unanimously on May 31 to roll over the oil
exports for one month, instead of the usual 180 days, while it debates the
changes.

*   Under consideration is a plan to lift most economic sanctions, strengthen
UN control of Iraq's oil exports, and tighten restrictions on Iraq's access to
new weaponry.

*  By strengthening control over oil exports, the new plan would reduce Saddam
Hussein's access to oil revenues. The approach also implies continued
sanctions, ensuring Iraq's ongoing opposition.

**end**

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E-mail Category: Alert
CERA Knowledge Area(s): Global Oil

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