Russia’s LUKoil announced yesterday that it will soon sign a $3.8 billion deal to develop Iraq’s Western Kurna oil field. LUKoil is to have a 70 percent stake in the project, while two other Russian companies, Zarubezhneft and Mashinoimport, will each take a 15 percent stake. The three companies have also been buying oil under the UN’s "oil-for-food" deal with Iraq. Vagit Alekperov, LUKoil’s president, said the project will not be launched until UN sanctions on Iraq are lifted. (AP, January 15)
Russia’s Policies Alienate CIS Countries, Nazarbaev Says.