Iraq Sanctions: Humanitarian Implications and Options for the Future - Security Council - Global Policy Forum France, Russia and China (permanent members of the Security Council) also have very substantial interests in commercial relations with Iraq, selling hundreds of millions of dollars in goods every year to Baghdad. Of the first $18.29 billion of oil-for-food contracts approved by the Security Council, $5.48 billion went to just these three countries. Further, Russia and France are owed billions of dollars by Iraq from arms sales prior to the Gulf War, loans they hope will be repaid through enlarged trade, oil deals, and growing Iraqi prosperity. Finally, Russian, Chinese and French companies are buyers of Iraq�s oil. Russian traders, in particular, have won a very large share of recent Iraqi oil-sale contracts. Iraq offers these commercial deals to curry favour and support. Commercial interests incline these states to support Iraq and to favor a more lenient approach