Security Council resolution 1175 (1998) [on authorization to permit States the export to Iraq of the necessary parts and equipment to enable Iraq to increase the export of petroleum and petroleum products]
[Authorization to States to permit the export to Iraq of the necessary parts and equipment to enable Iraq to increase the export of petroleum and petroleum products]

Authorizes States to permit, notwithstanding the provisions of paragraph 3 (c) of resolution 661 (1990), the export to Iraq of the necessary parts and equipment to enable Iraq to increase the export of petroleum and petroleum products, in quantities sufficient to produce the sum established in paragraph 2 of resolution 1153 (1998); requests the Committee established by resolution 661 (1990), or a panel of experts appointed by that Committee for this purpose, to approve contracts for the parts and equipment according to lists of parts and equipment approved by that Committee for each individual project; decides that the funds in the escrow account produced pursuant to resolution 1153 (1998) up to a total of US$300 million may be used to meet any reasonable expenses, other than expenses payable in Iraq, which follow directly from contracts approved; decides also that the expenses directly related to such exports may, until the necessary funds are paid into the escrow account, and following approval of each contract, be financed by letters of credit drawn against future oil sales, the proceeds of which are to be deposited in the escrow account; notes that the distribution plan approved by the Secretary-General on 29 May 1998, or any new distribution plan agreed by the Government of Iraq and the Secretary-General, will remain in effect, as required, for each subsequent periodic renewal of the temporary humanitarian arrangements for Iraq and that, for this purpose, the plan will be kept under constant review and amended as necessary through the agreement of the Secretary-General and the Government of Iraq and in a manner consistent with resolution 1153 (1998).

Adopted unanimously, 3893rd meeting

2 p.

Concerns authorization to States to permit the export of necessary parts and equipment to Iraq to enable it to increase the export of petroleum and petroleum products.