1. Jordan had been entirely dependent on Iraqi oil since September when Saudi Arabia had cut off supplies to Jordan. 2. The embargo halted Iraqi oil exports and stopped imports of food and raw materials. 3. The partial lifting of the oil ban was reportedly prompted by a recent UN report recommending limited sales of Iraqi oil to stave off imminent mass starvation. 4. The strike resulted from a crackdown by the Turkish authorities on the smuggling of Iraqi oil by lorry through Kurdistan to Turkey. 5. Already oil companies from France, Italy, Russia, Britain, Canada and elsewhere are rushing to conclude arrangements to obtain Iraqi oil once the embargo is lifted. 6. American companies will be allowed to bid on the Iraqi oil contracts, said Edward Gnehm Jr., the U.S. deputy representative to the United Nations. 7. American officials said Friday that the two diplomats had urged Jordan to stop accepting supplies of Iraqi oil that provides Baghdad with hard currency. 8. Analysts said the Iraqi oil would only add to an oversupply. 9. An oil refinery in the southern port of Basra that Cohen said had been used by Saddam to circumvent United Nations restrictions on Iraqi oil exports. 10. And few exporting nations have much capacity to replace the Iraqi oil. |