In a letter to the Security Council’s sanctions committee, he stated that during the first two months of the latest phase of the oil-for-food program, Iraq exported 63.2 million barrels of oil, which is "lower than previous recorded levels of monthly exports under the programme…. Even by the most conservative estimates, some $1.5 billion in revenue had been lost owing to a reduction in the level of Iraqi oil exports."
On July 23, however, the United Nations reported that: “ Iraqi crude exports spiked to 9.8 million barrels over the past week – the highest volume over a seven-day period since the start, in late May, of the current phase of the United Nations oil-for-food programme, which allows Baghdad to use a portion of its petroleum revenues to purchase humanitarian relief.
“With the price of Iraqi crude oil averaging approximately €24.30 (euros) or $24.50 per barrel, the week’s exports netted an estimated €238 million or $240 million in revenue, according to the Office of the Iraq Programme (OIP), which runs the oil-for-food scheme.
“Despite the recent rise in exports, an accumulated shortfall has left nearly 1,000 approved humanitarian supply contracts, worth almost $2.1 billion, without funding.”
On July 23, however, the United Nations reported that: “ Iraqi crude exports spiked to 9.8 million barrels over the past week – the highest volume over a seven-day period since the start, in late May, of the current phase of the United Nations oil-for-food programme, which allows Baghdad to use a portion of its petroleum revenues to purchase humanitarian relief.
“With the price of Iraqi crude oil averaging approximately €24.30 (euros) or $24.50 per barrel, the week’s exports netted an estimated €238 million or $240 million in revenue, according to the Office of the Iraq Programme (OIP), which runs the oil-for-food scheme.
“Despite the recent rise in exports, an accumulated shortfall has left nearly 1,000 approved humanitarian supply contracts, worth almost $2.1 billion, without funding.”