Iraq confirms cancellation of Russian oil contract

[arh777]

Not sure this was posted!!

Guided by U.S. legal advisers, the Iraqi government has canceled a controversial development contract with the Russian company Lukoil for a vast oil field in Iraq's southern desert, freeing it for potential international investment in the future.

In response, the Russian authorities have threatened to revoke a 2004 deal among the Paris Club of creditor nations to forgive $13 billion in Iraqi debt, a senior Iraqi official said.

http://www.iht.com/articles/2007/11/04/africa/iraq.php

[Howler]

Take that Putin! LOL

[yunowu]

Every now and then US still needs to show that we are in control of things !! This is a prime example !!

[NewUser]

Take that Putin! LOL

I quess we got to poke Putin in the eye with a stick

[Rocket Man]

Russia is not going to forgive the debt now, how will that affect the progress in Iraq?

[NewUser]

Russia is not going to forgive the debt now, how will that affect the progress in Iraq?

This doesn't mean that Luke Oil can't cut another deal. This is an old deal that was good for Russia and not for Iraq. The U.S. just showed them the light that they could make or save more money in the long run instead of giving it away for free to Russia. So what if Mother Russia won't give Dept forgiveness, maybe another company will help out with the dept by paying more, IMO Mother Russia will still give Iraq dept relief in-order to get a oil contract. This is all IMO and not fact. Russia wants and needs this oil contract, so they will cave in or they will miss out and screw there own country IMO.

[British Bulldog]

The true value of the deal they broke covers their debt and much more. Good move Iraq, stuff the Ruskies. That said, they do make very nice vodka.

This doesn't mean that Luke Oil can't cut another deal. This is an old deal that was good for Russia and not for Iraq. The U.S. just showed them the light that they could make or save more money in the long run instead of giving it away for free to Russia. So what if Mother Russia won't give Dept forgiveness, maybe another company will help out with the dept by paying more, IMO Mother Russia will still give Iraq dept relief in-order to get a oil contract. This is all IMO and not fact. Russia wants and needs this oil contract, so they will cave in or they will miss out and screw there own country IMO.

[LongShot]

Kinda nice to see Russia get spanked. They been doing quite a bit of chest pounding as of late. With China gaining strength and the USA what it is....Russia must feel like the red headed stepchild lately. And now Putin is going to back door another term from what I been reading by running for parliment and having the new president appoint him "president". Russia can not be trusted....they are up to something, they want to be a player again a superpower.

[Howler]

Kinda nice to see Russia get spanked. They been doing quite a bit of chest pounding as of late. With China gaining strength and the USA what it is....Russia must feel like the red headed stepchild lately. And now Putin is going to back door another term from what I been reading by running for parliment and having the new president appoint him "president". Russia can not be trusted....they are up to something, they want to be a player again a superpower.

IMO they are nothing moe than a paper tiger with an inflated ego because of all of their mob money.

Lets look at some facts.
Chechneya is currently too much for them to handle.
Iraq just pimp slapped them.

Yep, they are all talk at the moment.

[LongShot]

Very true :
With rocks no less. Wasn't good to be a Russian copter pilot in those days.....or the unsuspecting crew.

[INRI]

Very true :
With rocks no less. Wasn't good to be a Russian copter pilot in those days.....or the unsuspecting crew.

Rocks? I could have sworn it was with broken-up concrete rubble.