BAGHDAD, June 27 (UPI) -- Iraqi Oil Minister Husayn al-Shahrastani said Monday his ministry would apply the policy of "fish in return for gas" to stop smuggling oil products out of Basra.
Referring to increased oil production in Basra during the past two months, Shahrastani said investigations of administrative and financial corruption has led to the dismissal of employees from the ministry, Al-Hayat reported.
The oil minister said 1,700 "so-called fishing boats receive a share of gas oil in Basra that is then smuggled in an organized way and only 300 of these boats sail in the river to catch fish."
As a result, the ministry is planning to put in place measures "that include applying the policy of fish in return for gas oil."
The biggest percentage of smuggling "involves oil derivatives and not crude oil" which is being sold on the black market and abroad to gain from the price difference.
To counter smuggling the ministry has established special committees to deal with the widespread corruption.
