Russia blasts Iraq's cancellation of billion-dollar oil contract
Last Updated Mon, 16 Dec 2002 11:26:56
Iraq cancelled the exploration contract with Lukoil on Friday, saying the company didn't move fast enough to implement the deal.
The Russian Foreign Ministry called the cancellation bewildering.
Until the cancellation, Russian oil companies were major players in Iraq's oil industry.
Members of the Russian parliament said the decision was retaliation for Russia's support of the UN campaign of weapons inspections in Iraq.
Russia has tried to strike a balance between fostering a new relationship with U.S. President George W. Bush and maintaining a friendship with Iraq that has lasted since Soviet times.
Russia worked with France to try to limit the Americans' ability to launch an attack on Iraq, but backed the U.S. in the final resolution MOSCOW - Iraq's cancellation of a $3.7-billion contract with Russia's largest oil company was blatant political retaliation, say Russian politicians.
http://www.cbc.ca/stories/2002/12/16/russia_iraq021216