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. Last Updated: 07/27/2016

LUKoil: No Guarantees on Iraq

LUKoil said Monday it had received no guarantee that its assets and interests in Iraq will be protected under a future government if Saddam Hussein is driven from power, Reuters reported.

"We have warned the government many times, but we still don't know if any concrete measures have been taken," the news agency quoted a LUKoil executive, who requested anonymity, as saying.

The statement appears to contradict remarks made earlier this month by LUKoil chief Vagit Alekperov, who said President Vladimir Putin has assured him that the company's interests in Iraq, including a $4 billion deal with Baghdad to develop Iraq's West Qurna oil field, would be protected whether or not Saddam is driven from power.

Foreign Minister Igor Ivanov denied Friday that Moscow had held secret talks with Washington regarding the protection of its interests in Iraq.

"We are not in confidential talks with Washington. This is not about trade, this is about solving problems," Ivanov said.