Home
Kuwait gets new batch of reparations for Iraq's invasion
Published: 2014/10/26 0:30
Baghdad (Forat) -The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses in the 1990 Iraqi invasion of Kuwait, on Thursday made 1.06 billion U.S. dollars available to the government of Kuwait.
With the latest payment, the total amount of compensation received by the government of Kuwait now amounts to 47.8 billion U. S. dollars, leaving about 4.6 billion U.S. dollars remaining to be paid.
Successful claims are paid with money drawn from the UN Compensation Fund, which is financed by a percentage of the proceeds generated by the export sales of Iraqi petroleum and related products.
The Commission was established in 1991 as a subsidiary organ of the UN Security Council. It has received nearly three million claims, including from nearly 100 governments for themselves, their nationals or their corporations for losses and damages incurred as a direct result of Iraq's invasion and occupation of Kuwait from Aug. 2, 1990 to March 2, 1991.
The government of Kuwait's claim represents the largest award by the Commission./End/
Updated: 2014/10/25 17:43
[You must be registered and logged in to see this link.]
Published: 2014/10/26 0:30
Baghdad (Forat) -The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses in the 1990 Iraqi invasion of Kuwait, on Thursday made 1.06 billion U.S. dollars available to the government of Kuwait.
With the latest payment, the total amount of compensation received by the government of Kuwait now amounts to 47.8 billion U. S. dollars, leaving about 4.6 billion U.S. dollars remaining to be paid.
Successful claims are paid with money drawn from the UN Compensation Fund, which is financed by a percentage of the proceeds generated by the export sales of Iraqi petroleum and related products.
The Commission was established in 1991 as a subsidiary organ of the UN Security Council. It has received nearly three million claims, including from nearly 100 governments for themselves, their nationals or their corporations for losses and damages incurred as a direct result of Iraq's invasion and occupation of Kuwait from Aug. 2, 1990 to March 2, 1991.
The government of Kuwait's claim represents the largest award by the Commission./End/
Updated: 2014/10/25 17:43
[You must be registered and logged in to see this link.]
