Iraqi parliament approves new draft bill to fight oil smuggling
By JERUSALEM POST STAFF
A senior Iraqi lawmaker says parliament has approved a bill to combat oil smuggling.
Abdul-Hadi al-Hassani says the measure provides for stiff penalties for oil smugglers ranging from fines to imprisonment and confiscation of boats used for smuggling.
To become a law, the measure needs the signature of Iraq's three-member presidential council. Parliament approved the bill Wednesday.
Al-Hassani is the deputy chairman of the parliamentary committee on oil, gas and natural resources.
Iraq sits on the world's third-largest oil reserves, totaling more than 115 billion barrels, but the sector has been hampered by decades of neglect and lack of investment.
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