Arab oil nations have agreed in principle to lift their five-month-old oil embargo against the United States, Arab oil sources said today.
The sources said an announcement of the boycott's end has been held up so far while the oil ministers argued over details of the move.
(In Tunis, the official Algerian press service also announced the boycott's end, saying the Arab ministers "decided purely and simply to lift the embargo measures.")
(In Beirut, the newspaper An Nahar suggested Arab oil ministers might delay a decision on lifting the embargo until an Arab foreign ministers meeting "scheduled for Tunis March 25.)
("Informed sources said the meeting of Arab oil ministers may go on for two days before an agreement is reached," An Nahar said. "At worst, the decision might be delayed until the Arab foreign ministers meet in Tunisia March 25 to prepare for the Arab summit conference.")
An aide to Saudi Arabian Oil Minister Ahmed Zaki Yamani said the Arabs would hold a new round of talks this afternoon. Arab oil sources said a final decision was expected then.
Syrian Oil Minister Jabr EI Kefri was awaiting new instructions from Damascus following Sunday's indecisive meeting of Arab oil ministers on lifting the embargo, the sources said.
Egypt and Saudi Arabia had proposed the ban be scrapped in repayment of the U.S. role in negotiating an Israeli troop withdrawal from the Suez Canal, the source's said.
Syria wanted the ban lifted only temporarily in order to keep up pressure on the United States to get Israel to also withdraw from occupied Syrian territory, the sources said.
Many observers had expected the embargo to be lifted following a meeting of Arab oil ministers in Tripoli, Libya, last week but sources there indicated a formal decision ending the embargo would be announced in Vienna Sunday..
