Australia Wednesday welcomed the US government's decision to lift the sanction on Australia's monopoly wheat exporter, the AWB, which was involved in an Iraqi oil-for-food scandal.

Deputy Prime Minister and Minister for Trade Mark Vaile said the US Department of Agriculture has agreed to lift the suspension on the AWB from participating in US export credit programs.

The US new decision was made as the Australian government has announced a judicial inquiry on the case.

A UN inquiry has found AWB involved in funneling 200 million US dollars in kickbacks to Saddam Hussein's government under the UN oil-for-food programs.

"The Australian Government has announced a judicial inquiry on this matter and it is common sense to let that process run its course," Vaile said.

The Australian grain industry has voiced their concerns that the US sanctions on the AWB could damage the reputation of Australia's wheat growers.

"It's important that we consider this perspective and not play political games with people's livelihoods," Vaile said.

Source: Xinhua