Word: libya
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...when Malta ended its decade-old "special relationship" with Libya, Italy offered the strategic island republic economic aid in exchange for guaranteed neutrality. The deal moved Malta a step closer to the West, and it signaled Italy's decision to defend Western interests in the Mediterranean...
...Iran's Middle Eastern neighbors the conflict has served to intensify longstanding divisions within the Arab world. Saudi Arabia and other oil-rich gulf states have supported Iraq in the contest, while Syria and Libya have stood by Iran. If the war should spread, it could conceivably destabilize the entire gulf region. For the Soviet Union, which has 25 military divisions on its border with Iran, the prolonged and debilitating fighting offers a host of opportunities to exploit weaknesses on both sides...
Iran's principal supporters in the Middle East, Libya and Syria, have been able to fill only part of the country's arms needs. Tehran has thus had to turn for help to a strange assortment of suppliers. A significant portion of the arms shipments going to Iran comes from the Soviet Union, East Germany and North Korea. Israel, which regards Iraq as its most implacable enemy among the Muslim states, has sold Iran Israeli-made weapons such as sea-to-sea and air-to-air missiles, as well as some parts for the U.S.-made...
...member like Libya, which needs cash to underwrite the grandiose political ambitions of Colonel Muammar Gaddafi, could be tempted to do just that. Libya's production has been about 20% below...
OPEC itself is in disarray. Iran and Iraq, for example, have been waging a war of attrition for 18 months, and Iran two weeks ago reduced its oil price by $2 per bbl. to increase sales, raise money and pay for the fighting. Libya's leader Muammar Gaddafi last week let off a tirade against the U.S. and Saudi Arabia, which he accused of producing too much oil and driving down prices. He said that the oil producers now face an "economic blockade" ordered by America and executed by Saudi Arabia. Production by the 13 members of OPEC...