congressional research service the library of congress crs report for received through web order code rl32025 iraq s trade with world data and analysis updated march 25 2005 vivian c jones analyst in international finance foreign affairs defense division summary last years economic involvement market has fluctuated dramatically fluctuations brought about part by damage to its oil infrastructure during iran war 1980s followed a multinational military response multilateral sanctions as result 1990 invasion kuwait stability depended on exports crude since end ii accounted average 83 annual from 1980 virtually all 1996 when were imposed august sales dropped 10 2 billion 305 million 1991 1995 regime saddam hussein declined accept united nations un proposals seeking permit sell