Iraq has exported more than $7.8 billion in crude oil since last year's invasion of Iraq
Iraq has exported more than $7.8 billion in crude oil since last year's invasion of Iraq.
The Coalition Provisional Authority had deposited a total of $7.85 billion in its Development Fund for Iraq as of last Friday.
Of the total put in the fund since it was set up on May 28, 2003, $309 million was deposited during the last week, compared to $276 million the previous week.
Under a May 2003 U.N. Security Council resolution, the Coalition Provisional Authority is required to deposit all the proceeds of Iraqi oil exports into the fund.
The resolution was intended to ensure Iraq's secretive U.S.-led civil administration was not engaged in any dubious practices in marketing the oil and was using the proceeds for reconstruction.
