Russia is an important foreign partner of the "Oil for Food" program

On Saturday the Iraqi newspaper "Babil" reported that Iraq considered Russia to be the leading foreign partner within the framework of the UN "Oil for Food" program.

According to the information provided by the newspaper with reference to Muhammad Salih, Iraqi Trade minister, the trade turnover between Bagdad and Moscow amounted to USD 5.5 billion from the start of the "Oil for Food" program in 1996. Within its framework Iraq is allowed to sell fixed amount of crude in the global market and to use sale proceeds to acquire foodstuffs, medications and other humanitarian commodities.

Half of the Iraqi trade exchange within the framework of that program falls on Arab countries.