Transmits letter of 12 June 2001 from the Deputy Prime Minister and Acting Minister for Foreign Affairs; refers to letter dated 4 June 2001 from Saudi Arabia (S/2001/567) and conveys Iraq's position with respect to Saudi decision to expropriate the Iraqi crude-oil pipeline; states that this decision constitutes unlawful confiscation of Iraqi assets in breach of bilateral agreement and norms of international law; asserts that Iraq will pursue all means of legal redress in order to safeguard its assets and secure compensation.