Iraqi President Saddam Hussein says Iraq is halting its oil exports for 30 days, to protest Israel's offensive against the Palestinians. 

He says that after 30 days, Iraq will review the decision, unless Israeli troops have unconditionally withdrawn from the Palestinian territories they have occupied. The Iraqi leader announced the move during a televised speech after heading a cabinet meeting. 

The price of oil for May delivery jumped by more than $1.00 a barrel on the London market after the Iraqi announcement, but settled back later. Iraq has been exporting about two million barrels a day, about four percent of world supplies. 

President Saddam said the cut-off is aimed at the United States and Israel. He said he hopes Arab and Muslim states will bless the step, and that other oil producers would take similar action. 

Other leading oil producers and OPEC members, apart from Iran, have spurned the idea of using oil as a political weapon. 

In Moscow, a Russian government official said that the Iraqi oil suspension is a mistake that will only isolate Iraq further. The British government said Iraqi leader Saddam Hussein is playing politics with peoples' suffering, saying that the Iraqi people depend on oil revenues for vital food and medicines. 

Some information for this report provided by AP, Reuters and AFP.

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