On this day Iraq agreed to talks concerning a U.N. plan to allow for the Iraqi sale of $1 billion of oil for 90 days for a 180-day trial period. Also the Czech Republic applied for membership of the European Union.
Under U.N. Resolution 986, proceeds from the sale would be used for humanitarian purposes. In the past, Iraq had opposed clauses 6 and 8b contained in Resolution 986.
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Clause 6 stipulates that oil exports under this plan must pass through the 1.6 Mbbl/d (250,000 m3/d) Iraq-Turkey pipeline, which currently is unusable because of sludge build-ups and pumping station damage.
By most estimates, the line would take a minimum of three months to repair. Clause 8b states that part of the proceeds from the sales would be disbursed under U.N. supervision to Kurdish provinces in northern Iraq.
Negotiations between Iraq and the United Nations were scheduled to begin February 6, 1996. (FT, PON, DJ)
Iraq agrees to talks concerning a UN plan to allow for the Iraqi sale of $1 billion of oil; proceeds from the sale would be used for humanitarian purposes.
The Czech Republic applies for membership of the European Union.