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Iraq Decides Against Oil-Supply Deal With China’s Zhenhua

  • Finance minister Allawi says contract has been ‘deferred’
  • Deal would have provided cash-strapped Iraq with $2 billion

Photographer: Haidar Mohammed Ali/AFP/Getty Images

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Iraq has decided against signing an oil-supply deal with a Chinese state company that would’ve seen the cash-strapped Arab nation get about $2 billion upfront.

The contract has been “deferred until further notice,” Finance Minister Ali Allawi said in an interview, without giving more details.