I cant see how to be credible France cannot have oil interests in Iraq, whilst the US which has stated their ambitions are credible.
In testimony to Congress in 1999, General Anthony C.Zinni, commander in chief of the US Central Command, testified that the Gulf Region, with its huge oil reserves, is a "vital interest" of "long standing" for the United States and that the US "must have free access to the region’s resources."
After the nationalisation of Iraq oil in 1972 in which US and UK companies lost their 3/4 share to the Iraq Petroleum Company, Iraq turned to French companies and the Russian (Soviet) government for funds and partnerships. Today, the US and UK companies are very keen to regain their former position, which they see as critical to their future leading role in the world oil industry.
"Iraq possesses huge reserves of oil and gas – reserves I’d love Chevron to have access to," enthused Chevron CEO Kenneth T. Derr in a 1998 speech at the Commonwealth Club of San Francisco, in which he pronounced his strong support for Iraq sanctions.
As for Russia, back in September 2002 in Washington Russian Vice Premier Aleksey Kudrin assured Western politicians that Russia was not going to raise loans either in the IMF, or in the World Bank in 2003. This was in response to questions regarding possible war in Iraq. The Russian finance minister stated that Russia’s budget 2003 would allow Russia to execute all of its foreign debt obligations and settle its home social issues as well.
This statement ran contrary to the widely held (media) belief that Russia would fall with low oil prices.
