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Russia and Iraq have strong economic, commercial ties

Here are some key facts about commercial ties between Russia and Iraq:

_ Iraq owes Russia an estimated $8 billion.

_ Russia imports more Iraqi goods than any other nation—$1.4 billion in the last half of 2001 alone.

_ Russia and Iraq are close to signing a multiyear, $40 billion economic cooperation deal that would include massive Russian investment in Iraqi oil, energy and transportation infrastructure. Russia also would help build new steel plants and pipelines and rehabilitate ports.

Other Russia-Iraq deals involve:

_ Oil: Russian companies have been invited to develop some Iraqi oil fields.

_ Nuclear power: Russia is helping to construct a civilian nuclear power plant in Bushehr on Iraq's west coast.

_Transportation: Iraq is a major customer for Russian trucks.

Sources: Interfax, ITAR-TASS, World Almanac


(Knight Ridder Newspapers researcher Tish Wells compiled this report.)


(c) 2002, Knight Ridder/Tribune Information Services.