FT.com | TotalSearch | Global Archive | Article A discreet way of doing business with Iraq
FT.com site; Nov 3, 2000
BY CAROLA HOYOS, UNITED NATIONS CORRESPONDENT
Millions of dollars of US oil business with Iraq are being channelled discreetly through European and other companies, in a practice that has highlighted the double standards now dominating relations between Baghdad and Washington after a decade of crippling sanctions.
Though legal, leading US oil service companies such as Halliburton, Baker Hughes, Schlumberger, Flowserve, Fisher-Rosemount and others, have used subsidiaries and joint venture companies for this lucrative business, so as to avoid straining relations with Washington and jeopardising their ties with President Saddam Hussein's government in Baghdad.