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Saddam Hussein — Part 1
Page 67
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1631-HQ-1462938
Sabah. In addition, the Saudi Minister of Oil came to Iraq and
held talks about oil prices, the Iraqi economy, and the actions
of Kuwait. HUSSEIN claimed that a Kuwaiti official said, "We'll
make the economy in Iraq so bad, an Iraqi woman will sleep with
you for 10 dinars." HUSSEIN told the Saudis that if Kuwait did
not stop interfering in Iraqi affairs, he would make the Kuwaiti
dinar worth 10 fils.
HUSSEIN stated when Kuwait was faced with facts
regarding "stealing" Iraqi oil by slant drilling, they admitted
to having taken "only two and a half billion barrels." They
stated this fact "as if it were nothing."
Regarding problems with Kuwait, Iraq sent delegates to
other Gulf countries, the names of which HUSSEIN does not
remember. These delegates explained the Kuwaiti and Iraqi
situation. The other countries promised to correct oil prices at
the next Organization of Petroleum Exporting Countries (OPEC)
meeting.
At that meeting, HUSSEIN recalled a decision was
made to fix oil prices at $16-17 per barrel. Kuwait concurred
with this decision. Thereafter, the Kuwaiti Minister of Oil or
Minister of Foreign Affairs stated Kuwait would not abide by the
OPEC decision.
Regarding loan debts owed to Gulf countries as a result
of support received during the Iran-Iraq War, HUSSEIN stated
these were not loans and were supposed to be free aid from these
countries. The countries originally used the word "loan" as a
formality to disguise the purpose of the funds. When Iraq was
informed the money were actually loans, Iraq held discussions
with these countries, including Kuwait, to resolve these debts.
Because the money had been "registered as loans" to Iraq, Iraq
could not secure loans from other countries in order to rebuild.
HUSSEIN stated he twice discussed a change in oil
prices to $25 per barrel. Once, when the price per barrel
reached $50, HUSSEIN wrote a letter, dictated to AZIZ, which was
sent to the Thoura newspaper. In the letter, he told the oil-
producing countries they should not take advantage of
industrialized nations. HUSSEIN asked them to reduce the price
per barrel to $25. He commented this was strange at that time as
Iraq had oil and could use the money. When the price dropped to
$7 per barrel in 1989-90, HUSSEIN called for an increase to $24-
25 per barrel. In HUSSEIN's opinion, this price would not burden
the consumer or hurt the producer.
66
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