Moscow, 17 December 1996 (RFE/RL) - Interfax news agency reports three Russian oil companies have signed contracts to buy more than 1 million tons of oil from Iraq under the U.N. oil-for-food deal.
Yuri Agababov, deputy director of Zarubezheneft, told the agency his company, together with the other two, Lukoil and Nafta-Moskva, have submitted the contracts to the United Nations for approval. Agababov said the first shipment would leave by January 10, provided the U.N. approves the contracts.
The oil-for-food deal, which went into effect last week, allows Iraq to sell $2 billion worth of oil for an initial period of 180 days to buy humanitarian goods for its people. All contracts under the deal are subject to U.N. approval.
Yuri Agababov, deputy director of Zarubezheneft, told the agency his company, together with the other two, Lukoil and Nafta-Moskva, have submitted the contracts to the United Nations for approval. Agababov said the first shipment would leave by January 10, provided the U.N. approves the contracts.
The oil-for-food deal, which went into effect last week, allows Iraq to sell $2 billion worth of oil for an initial period of 180 days to buy humanitarian goods for its people. All contracts under the deal are subject to U.N. approval.