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Baghdad - conscious - Nassar al-Hajj
Today, Friday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed a legal clause that prevents the proposal to trade oil for food, while specifying the alternative .
Saleh said in a statement to the Iraqi News Agency (INA): "The effective financial management law does not allow oil barter policies, because of the price risks that accompany such agreements, and public revenues lose their governance ."
He added that "because of the concomitant global energy and food crises at the same time, oil sales may turn to supply contracts to buyers with a priority that puts oil buyers in front of providing and preparing the country's food needs in the current circumstance and a priority as well ."
He continued, "I think that this method of commercial dealing, which is based on providing the benefits of equipment with a mutual priority, is often the most successful, rather than bartering and its damages ."
[You must be registered and logged in to see this link.]
Baghdad - conscious - Nassar al-Hajj
Today, Friday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed a legal clause that prevents the proposal to trade oil for food, while specifying the alternative .
Saleh said in a statement to the Iraqi News Agency (INA): "The effective financial management law does not allow oil barter policies, because of the price risks that accompany such agreements, and public revenues lose their governance ."
He added that "because of the concomitant global energy and food crises at the same time, oil sales may turn to supply contracts to buyers with a priority that puts oil buyers in front of providing and preparing the country's food needs in the current circumstance and a priority as well ."
He continued, "I think that this method of commercial dealing, which is based on providing the benefits of equipment with a mutual priority, is often the most successful, rather than bartering and its damages ."
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