The debt number is the only real number in this case. I don’t know who started the $52 billion figure (Russian companies most likely). Valuing the contracts is very difficult – valuing is based on hope and expectations – contracts are not inked with a specific number. At this time I don’t see the debt issue and oil contracts as being closely related as Chris claimed. However, Iraqi debt to Russia may used by the Kremlin is cancel a portion of Soviet debt to the west – may be some kind of financial instrument. As for primary contracting and sub-contracting, I think we will see more subcontracting for the Russians. Lastly, “Iraq says…..” What does that mean? Who is speaking for Iraq at this time?
--------------------------------- Do you Yahoo!? Free online calendar with sync to Outlook(TM). -------------- next part -------------- An HTML attachment was scrubbed... URL: <../attachments/20030604/6ca20cd7/attachment.htm>