The
Security Council,
Recalling its previous
relevant resolutions and in particular its resolutions 986 (1995) of
14 April 1995, 1111 (1997) of 4 June 1997, 1129 (1997) of 12 September
1997, 1143 (1997) of 4 December 1997, 1153 (1998) of 20 February 1998,
1175 (1998) of 19 June 1998 and 1210 (1998) of 24 November 1998,
and 1242 of 21 May 1999,
Recalling also
the report of the Secretary-General of 19 August 1999 (S/1999/896),
in particular paragraphs 4 and 94,
Determined to improve
the humanitarian situation in Iraq,
Reaffirming the
commitment of all Member States to the sovereignty and territorial integrity
of Iraq,
Acting under Chapter
VII of the Charter of the United Nations,
1. Decides that
paragraph 2 of the resolution 1153 (1998), as extended by resolution
1242 (1999), shall be modified to the extend necessary to authorize
States to permit the import of petroleum and petroleum products originating
in Iraq, including financial and other essential transactions directly
related thereto, sufficient to produce an additional sum, beyond that
provided for by resolution 1242 (1999), equivalent to the total shortfall
of revenues authorized but not generated under resolutions 1210 (1998)
and 1153 (1998), 3.04 billion United States dollars, within the period
of 180 days from 0001 hours , eastern standard time, on 25 May 1999;
2. Decides to remain
seized of the matter.