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WEEKLY NEWSLETTER
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Soviet Union
Index
The Organization of Petroleum Exporting Countries (OPEC),
particularly Iraq and Algeria, absorbed the largest share of the
Soviet Union's ""unidentified"" exports (see
table 52, Appendix A).
Although Soviet statistics usually showed a very low or negative
trade balance with these countries, the balance was probably high
because of arms sales. In the 1980s, some OPEC countries,
particularly Iran and Iraq, together with Syria, which was not a
member of OPEC, exchanged oil for Soviet arms and military
equipment. Oil from these countries was resold to the West for hard
currency. In the late 1980s, the Soviet Union attempted to increase
its exports of nonmilitary goods to these countries. In May 1986,
the Soviet Union and Iraq agreed to increase Soviet nonmilitary
equipment sales, and in August 1986 an attempt was made to revive
Iraqi gas sales.
Data as of May 1989
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