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Iraq Has Sovereign Immunity In Oil Contract Suit: 9th Circ.

By Daniel Wilson (July 17, 2012, 7:50 PM EDT) -- The Ninth Circuit ruled Monday that two Cyprus-based oil brokers cannot pursue $6.25 million in claims against the Republic of Iraq for terminating contracts for the sale and purchase of Iraqi oil, saying that because allegations in the suit weren't based on U.S commercial activity by Iraq, sovereign immunity applied....

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