U.N. ISSUE: RESUMPTION OF IRAQI OIL EXPORTS

The United Nations Security Council was holding informal talks last week on a plan to allow Iraq to sell $2.4 billion in oil to pay for food and medical supplies. The U.S. and Great Britain argued against the one time sale, saying Iraq has enough foreign currency and gold reserves to pay for its food and medical requirements for some time. As a result of Iraq's August 1990 invasion of Kuwait, the U.N. banned the international sale of Iraqi oil.