There were two new contracts approved for the export of oil - one to a Venezualan company for two million barrels of Kirkuk for Europe and the other to a Swiss company for one million barrels of Kirkuk, also for Europe. The approved volume of oil contracts is 275.15 million barrels (165m Basrah Light and 110.15 Kirkuk).
Since the accelerated procedures for the approval of contracts for humanitarian supplies for Iraq began 1 March 2000, the Office of the Iraq Programme has notified the 661 committee of 118 applications, worth $429 million, that do not require to be circulated to the committee pursuant to paragraph 17 of resolution 1284.
Over the past week the Office of the Iraq Programme received 10 contracts which included possible dual-use items affected by the provisions of resolution 1051 (1996). The cumulative total of applications under this category (phases IV to VII) is 52.
On the humanitarian side, the Security Council's Iraq Sanctions Committee has approved $5.32 billion dollars worth of contracts in Phases IV to VII and put $1.32 billion on hold for the same period.
In Phases IV to VII, OIP has received a total of 2243 contracts worth $1.26 billion for the supply of oil industry parts and equipment. Of these contracts, the Sanctions Committee has approved 1292, worth $673 million and put 555, worth $331.9 million, on hold.
Last Friday, 24 March the United States lifted holds it had placed on 69 contracts worth a total $111.2 million. These included 26 contracts for the oil sector worth $15.6 million and 42 contracts for the humanitarian sectors worth $95.6 million. At the same time, the United States placed on hold seven contracts worth $7.6 million. The net result is that the total level of holds fell to $1.67 billion.
Humanitarian supplies and equipment for the oil industry continue to arrive normally through the three land border points and the Iraqi port of Umm Qasr. Arrivals included: 13,668 tonnes of wheat, 3,205 tonnes of cooking oil, 3,329 tonnes of detergents plus a range of medicines and pharmaceutical products. Other arrivals included classroom furniture, portable compressors, tomato seeds and laboratory refrigerators.
For further information please contact John Mills on 1.212.963 1646