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Iraq permits UN watchdog to continue oil monitoring

[JURIST] Iraqi Foreign Minister Hoshiyar Zebari [Wikipedia profile] told the UN Security Council Tuesday that Iraq will allow the International Advisory and Monitoring Board [official website] to keep monitoring its oil production and spending related to oil revenues. Zebari said that oversight from the group would demonstrate that oil revenues are used for the benefit of all Iraqi citizens. The Board, created by the Council in 2003, aims to rectify problems such as those identified in a recent audit [JURIST report] that showed $69 million in unaccounted oil and contracts granted without bidding competition. Reuters has more.

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