Iraqi crude exports under UN 'oil-for-food' programme drop sharply
Iraq's crude exports under the United Nations oil-for-food programme plummeted to 11.4 million barrels last week, according to the UN office running the scheme, which allows Baghdad to use a portion of its petroleum revenue to purchase humanitarian relief.
The exports generated revenue estimated at €280 million (euros) or $245 million, according to the Office of the Iraq Programme.
The previous week, Baghdad exported 14.2 million barrels of crude, generating an estimated €330 million (euros) or $285 million in revenue
Also in the week ending 15 March, the Security Council committee monitoring the sanctions against Iraq released from hold 25 contracts worth $40.6 million, while placing on hold 28 new contracts worth $96 million. The total value of “holds” stood at over $5.3 billion.