Ahmadinejad slams US for Iraq 'oil theft'

Iran's president has hinted that the White House is to blame for the billions of dollars that have gone missing in Iraqi oil revenues.

"Several months ago, we heard that an enormous amount of over 100-million barrels of Iraqi crude have gone unaccounted for since the US-led invasion of the country," President Mahmoud Ahmadinejad said on Wednesday.

The New York Times quoted a draft government report as saying in 2007 that "between 100,000 and 300,000 barrels a day of Iraq's declared oil production over the past four years is unaccounted for and could have been siphoned off through corruption or smuggling."

Considering the four-year period, a total of 100-million barrels of unaccounted crude oil is a conservative estimate.

President Ahmadinejad also questioned the real motives behind the Bush administration's decision to invade Iraq in 2003.

According to the Iranian president, Washington has adopted a policy of exploiting the resources of other nations to extricate Americans from the various problems caused by US politicians.

Following the US-led invasion of Iraq, Washington secured UN approval to take financial control of Iraqi government affairs; US President George W. Bush vowed to spend Iraq's money wisely.
read more