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Another benchmark has been met in Iraq.
BAGHDAD, Iraq (AP) - The Iraqi Cabinet approved draft legislation Monday to manage the country's vast oil industry and divide its wealth among the population, a key U.S. benchmark for progress in this country. The legislation now goes to parliament for approval.
Prime Minister Nouri al-Maliki announced the decision after the Kurds accepted the draft oil bill over the weekend - nearly two months after the government's own deadline for enacting a new oil law.
Al-Maliki said the measures would be "another foundation stone" in building a new Iraq, which relies on oil revenues for about 90 percent of its national budget.
My Way News - Iraqi Cabinet Approves Draft Oil Law
BAGHDAD, Iraq (AP) - The Iraqi Cabinet approved draft legislation Monday to manage the country's vast oil industry and divide its wealth among the population, a key U.S. benchmark for progress in this country. The legislation now goes to parliament for approval.
Prime Minister Nouri al-Maliki announced the decision after the Kurds accepted the draft oil bill over the weekend - nearly two months after the government's own deadline for enacting a new oil law.
Al-Maliki said the measures would be "another foundation stone" in building a new Iraq, which relies on oil revenues for about 90 percent of its national budget.
My Way News - Iraqi Cabinet Approves Draft Oil Law