Iraqi-Russian agreement endorsed by Iraqi parliament

May 26, 1997 02:00 AM

May 10, 1997 The Iraqi government has endorsed an agreement signed with Russia providing for investment of $ 3.5 bn to develop the Al Qarna oil field in the south of the country.
The Iraqi National Assembly approved the agreement last month. It was initially signed in Baghdad in March by the Iraqi and Russian oil ministers.
The Russian minister had said at the signing ceremony that the agreement would be implemented immediately after the endorsement of both countries' parliaments and governments. He said the accord would not violate United Nations sanctions on Iraq, in force since August 1990.

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