Iraq trade: Post-sanction glow

July 2003
Middle East;Jul2003, Issue 336, p44
The passage of U.N. Resolution 1483, lifting sanctions on Iraq, does more than permit sale of Iraqi oil in world markets. It re-opens a vast potential market for western goods and services, and provides suggestions for how the international community can resolve the thorny problem of Iraq's enormous foreign debt. The most glaring omission from Resolution 1483 is its failure to address the status of past and future contracts. This leaves the US in full control of the process of awarding any future contracts covering the energy sector and reconstruction as a whole.


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