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Saddam Hussein — Part 1

94 pages · May 11, 2026 · Document date: Feb 12, 1987 · Broad topic: General · Topic: Saddam Hussein · 90 pages OCR'd
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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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