§ Lord Juddasked Her Majesty's Government:
What discussions they have had with the United States administration on the need to avoid (a) the impression that Iraqi oil wealth is being used to fund American companies to enable them to repair damage done by the coalition; and (b) the impression that there is a long term strategy for foreign control of the industry; and what was the outcome of any such discussions. [HL2793]
§ The Minister for Trade (Baroness Symons of Vernham Dean)We have frequent contact with the US administration on a wide range of issues relating to Iraq, including oil. Both we and the US have made clear on many occasions that Iraqi oil belongs to Iraq and that it should be used for the good of the Iraqi people. The resolution which we and the US put before the UN Security Council envisages a role for an international body to ensure transparency in expenditure of Iraqi oil revenues.