Iraq: A Poisoned Dagger

A Poisoned Dagger

Backed by his chemical-weapons arsenal and million-man army, Iraq's Saddam Hussein has become increasingly belligerent. But the Arab world was taken by surprise last week when Saddam rattled his saber at fellow OPEC members Kuwait and the United Arab Emirates. He accused the two countries of "stabbing Iraq in the back with a poisoned dagger" by conspiring with the U.S. to glut the world oil market. By some estimates, lower oil prices caused by overproduction have cost Iraq, whose debt is as much as $70 billion, some $14 billion in lost revenue. Iraq also charged Kuwait with stealing oil for the...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!