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'Indian loan for iraq violates UN sanctions': report

India is to make available a $ 25 million loan to Iraq in violation of the United Nations sanctions against Baghdad, Middle East Economic Survey reported today, according to a DPA dispatch from Nicosia.

The deal has been in the wind since last September, MEES said.

US officials reacted sharply to the memorandum of understanding concluded in the Iraqi capital last week, saying it would be ''surprising'' if India ''were to consciously and publicly violate these sanctions''.

The loan was mainly to enable Iraq to import commercial products, with only $ 2.5 million alloted for the oil sector, the report said. The MoU calls for a loan to purchase 1,000 buses, 100,000 tons of wheat, medical supplies and tea.

UNI

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