AKIron: From the article I posted before your post. Of course I don't know if it's accurate.
If Russia did act as an intermediary for reselling iraqi oil, or bought some of it for themselves because iraq is close to the south and transporting oil from Iraq may be cheaper than from the north, they will not be able to to maintain those actions, embargoe or not - not with US in control of the oil production.
What is large for iraq is not necessarily large for Russia. If they engaged into any small import dealings with Iraq, it's mostly to facilitate huge development and exploration contracts - which are exports.
It's major oil price drop that Russia fears, not some measly commissions on some iraqi resale. The cost of producing oil in russia is about $18/barrel. If it drops to that level, they are screwed in a major way.
miko