Basra, Iraq’s oil export hub perched on the Persian Gulf, is busier than it has been since conflict between the United States and Iran began in February. According to Bloomberg, satellite imagery...
Iraq relies on oil revenue for over 90 percent of its budget. With exports hovering at around half of the usual 3.4 million barrels per day (bpd) that were exported before Iran closed the Strait of Hormuz,...
Iraq’s reliance on oil exports through the now-closed Strait of Hormuz may spell financial disaster for Baghdad, which has limited options to avert a crisis. More than 94 percent of Iraq’s oil exports...
Having stood trial for almost a month in a Manhattan federal courtroom, 83-year-old Texas tycoon Oscar S. Wyatt Jr. struck a deal Monday. He pleaded guilty to conspiracy to defraud the United Nat...
Having stood trial for almost a month in a Manhattan federal courtroom, 83-year-old Texas tycoon Oscar S. Wyatt Jr. struck a deal Monday. He pleaded guilty to conspiracy to defraud the United Nations' former Oil for Food program for Iraq. Brushing past me on his way out of the courtroom -- he's clearly familiar with my writing on the subject -- he shot a remark: "You ought to be happy."
NEW YORK — This is the tale of a bribe linked to the U.N. oil-for-food program in Iraq. The bribe itself, paid to Saddam Hussein's regime, first made the news in late 20...