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Tuesday, May 01, 2012
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GENEVA: Kuwait yesterday “stressed need” for Iraq’s continuing regular deposits in the UN war compensation fund in line with relevant international resolutions. Kuwait stressed the need for continuation of regular deposits in the Compensation Fund, as provided for in UN Security Council Resolution 1956 (2010), of five percent of the proceeds from all export sales of petroleum, petroleum products and natural gas of Iraq; as well as five percent of the value of any non-monetary payments of petroleum, petroleum products and natural gas, said Chairman of the Public Authority for Assessment of Compensation for Damages Resulting from the Iraqi Aggression.
Khaled Al-Mudhaf, who was addressing the 73rd session of the Governing Council of the United Nations Compensation Commission, thanked the Governing Council and the UNCC Secretariat for the distribution, on Oct 27, 2011, Jan 26, 2012 and April 26, 2012, of compensation amounts to Kuwait in accordance with Decision 267, noting that the Gulf State was looking forward to continuing to receive future installments of quarterly payments of the outstanding balance awarded to Kuwait by the Council.
Moreover, he thanked Iraq for continuing with the previously established mechanism for the transfers, under oversight of international external auditors who will ensure that Iraq continues to meet its obligations as established in the provisions of paragraph 21 of resolution 1483 (2003), and “we also note that the UNCC and COFE are meeting on a regular basis and we welcome their cooperation.”
Elaborating, he said the balance of the award sums remaining to be paid to Kuwait from the Compensation Fund stands at about $16 billion.
“From the outset when it was agreed in 2008 that Iraq and Kuwait would meet under the auspices of the United Nations Compensation Commission, to discuss the issue of the outstanding awards of Kuwait, the Government of the State of Kuwait has remained committed to the process. However, despite the efforts of the UNCC, since the first meeting that took place in May 2009 in Amman, no other meeting has been held to further discuss this issue or the proposal that Kuwait put forward as an option,” he stated.
Kuwait again renews its commitment and readiness to discuss the issue of the remaining compensation owed to Kuwait through this mechanism and under the auspices of the UNCC and awaits confirmation of the Government of Iraq’s favorable response in this regard.
In the meantime, “we would like to recall that guaranteeing the outstanding amount paid to Kuwait is indeed a responsibility of the Governing Council under its original mandate. Therefore, the UNCC should not relent in its efforts until the full amount is paid.
“Alongside your mandate over the outstanding compensation payments is your mandate over the Follow-up Program for environmental claims awards, as established under Decision 258. Several issues arise in that regard, especially in connection with the establishment, by the State of Kuwait, of the systems and controls identified in Decision 269,” Al-Mudhaf added. — KUNA
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
GENEVA: Kuwait yesterday “stressed need” for Iraq’s continuing regular deposits in the UN war compensation fund in line with relevant international resolutions. Kuwait stressed the need for continuation of regular deposits in the Compensation Fund, as provided for in UN Security Council Resolution 1956 (2010), of five percent of the proceeds from all export sales of petroleum, petroleum products and natural gas of Iraq; as well as five percent of the value of any non-monetary payments of petroleum, petroleum products and natural gas, said Chairman of the Public Authority for Assessment of Compensation for Damages Resulting from the Iraqi Aggression.
Khaled Al-Mudhaf, who was addressing the 73rd session of the Governing Council of the United Nations Compensation Commission, thanked the Governing Council and the UNCC Secretariat for the distribution, on Oct 27, 2011, Jan 26, 2012 and April 26, 2012, of compensation amounts to Kuwait in accordance with Decision 267, noting that the Gulf State was looking forward to continuing to receive future installments of quarterly payments of the outstanding balance awarded to Kuwait by the Council.
Moreover, he thanked Iraq for continuing with the previously established mechanism for the transfers, under oversight of international external auditors who will ensure that Iraq continues to meet its obligations as established in the provisions of paragraph 21 of resolution 1483 (2003), and “we also note that the UNCC and COFE are meeting on a regular basis and we welcome their cooperation.”
Elaborating, he said the balance of the award sums remaining to be paid to Kuwait from the Compensation Fund stands at about $16 billion.
“From the outset when it was agreed in 2008 that Iraq and Kuwait would meet under the auspices of the United Nations Compensation Commission, to discuss the issue of the outstanding awards of Kuwait, the Government of the State of Kuwait has remained committed to the process. However, despite the efforts of the UNCC, since the first meeting that took place in May 2009 in Amman, no other meeting has been held to further discuss this issue or the proposal that Kuwait put forward as an option,” he stated.
Kuwait again renews its commitment and readiness to discuss the issue of the remaining compensation owed to Kuwait through this mechanism and under the auspices of the UNCC and awaits confirmation of the Government of Iraq’s favorable response in this regard.
In the meantime, “we would like to recall that guaranteeing the outstanding amount paid to Kuwait is indeed a responsibility of the Governing Council under its original mandate. Therefore, the UNCC should not relent in its efforts until the full amount is paid.
“Alongside your mandate over the outstanding compensation payments is your mandate over the Follow-up Program for environmental claims awards, as established under Decision 258. Several issues arise in that regard, especially in connection with the establishment, by the State of Kuwait, of the systems and controls identified in Decision 269,” Al-Mudhaf added. — KUNA
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