Iraq's Ambassador to the United Nations, Nizar Hamdoon, announced on Tuesday that Iraq would finally accede to a United Nations demand to spend oil revenue for needed food and medical supplies for its beleaguered population. But it was not clear that Iraq has made a firm decision. The international embargo on Iraq, first imposed in August of 1990, has devastated the Iraqi economy. Until now, Hussein has refused the UN offer to allow Iraq to sell a billion dollars of oil every 90 days because of the monitoring strings attached. As a result of Hamdoon's announcement, the price of crude oil fell sharply. But the issue was plunged into doubt at the end of the day when CNN's Peter Arnett reported from Baghdad that Iraqi officials were denying any change in their government's policy.