The United Nations Security Council approves an overhaul of the “oil-for-food” program for Iraq that makes use of an extensive list of “dual-use” goods (goods that could have a military as well as civilian use). Iraq will be able to use its oil revenues, which go into a U.N. escrow account out of which suppliers exporting products to Baghdad are paid, in order to purchase items not on the list. The resolution renews the U.N. program until November 25, 2002. On May 16, official Iraqi news agency INA announces that it will comply with the new six-month tranche of the “oil-for-food” program voted by the U.N. Security Council on May 14, despite condemning the Security Council resolution in the same statement. Iraq officially accepts the U.N. proposal on May 29. (Reuters) May 17: Russian Prime Minister Mikhail Kasyanov announces that Russia will not extend its crude oil export cut, agreed to with OPEC, into the third quarter of 2002 and furthermore, that Russia will gradually phase out the export cut in the remainder of the second quarter of 2002. Russia is the world's second-largest oil exporter. (WMRC) May 24: U.S. President George Bush and Russian President Vladimir Putin agree to a major new energy partnership that will entail more investment from the United States in Russia's oil and natural gas sector. The leaders also agree to joint efforts to improve ports, pipelines, and refineries in order to expedite export flow. This could mean more Russian hydrocarbon exports to North America. (NYT) May 28: The U.S. government decides to buy back leases for oil and natural gas drilling on the Florida coast and in the Everglades for $235 million because of environmental concerns. Secretary of the Interior Gale Norton has asserted that there are only of oil equivalent in the area to be protected, about two days' worth of U.S. consumption. (OD) June 20: Norway's Oil and Energy Ministry states that, "The Norwegian government has decided not to extend the restriction on oil production into the second half of 2002." Norway had agreed with OPEC to reduce its crude oil production by for the first two quarters of 2002. (Reuters) June 25: Russia formally announces that it will raise its crude oil exports by in the third quarter of 2002 and thereby, end its agreement with OPEC to limit crude oil exports by for the first and second quarter of 2002.