Iraq: Citing Plunge in Oil Prices, Iraq Seeks Arms on Credit to Fight ISIS

Jan 22, 2015 | Michael R. Gordon, New York Times
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LONDON — Battered by a sharp decline in oil prices, Iraq is asking Western allies to provide weapons on credit for its fight against the Islamic State until Baghdad is in a better position to pay.Prime Minister Haider al-Abadi of Iraq said on Thursday that oil exports accounted for 85 percent of his government’s budget and that the precipitous drop in prices was posing a fresh challenge to the Iraqi government as it was trying to push back Islamic State militants.“This has been disastrous for us,” Mr. Abadi said. “One thing we are asking for is deferred payment. That’s one solution. And I think our coalition partner has been very receptive of this.”