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PR/2012/4 3 May 2012
PRESS RELEASE
GOVERNING COUNCIL OF UNITED NATIONS COMPENSATION COMMISSION
CONCLUDES ITS SEVENTY-THIRD SESSION
The Governing Council of the United Nations Compensation Commission, under the
Presidency of Ambassador Hanns Heinrich Schumacher (Germany), has today concluded its seventythird
session. At this session, the Council elected Morocco as its second Vice-President. South Africa
currently holds the other vice-presidency.
Delegations from Iraq, including the Head and members of Iraq’s Committee of Financial
Experts, Jordan, Kuwait and Saudi Arabia addressed the fifteen-member Governing Council at its
opening plenary meeting.
The Governing Council continued its consideration of progress made by the participating
Governments under the Follow-up Programme for Environmental Awards since the adoption of
decision 269 (S/AC.26/269 (2011)) concerning the fulfilment of the Programme in the near term and
opened consultations with the participating Governments on the political assurances that will
ultimately be obtained under this decision.
In its consideration of the issue of arrangements for ensuring payments are made to the
Compensation Fund, the Governing Council noted its appreciation of the continued deposits to the
Compensation Fund since the transfer of the oversight of Iraqi oil revenues to the Iraq Committee of
Financial Experts in July 2011. The Council welcomed confirmation that a mechanism for the
valuation and transfer of 5 per cent of non-monetary payments of petroleum, petroleum products and
natural gas had been put in place by Iraq in compliance with Security Council resolution 1956 (2010).
The Council also considered a report from the Executive Head of the UNCC Secretariat on the
activities of the Commission since the last session; and a report on payment of awards and distribution
of payments to successful claimants, the transparency of the distribution process, and the return of
undistributed funds.
At present, $16 billion remains owing to Kuwait for distribution to six successful claimants.
Claims are paid with funds drawn from the United Nations Compensation Fund, which currently
receives 5 per cent of the proceeds generated by the export sales of Iraqi petroleum and petroleum
products in accordance with Security Council resolution 1483 (2003) and affirmed in subsequent
resolutions, most recently in Security Council resolution 1956 (2010).
The Council decided to hold its next regular session from 27 – 29 November 2012.
Further information about the Commission, including the text of Governing Council decisions,
can be found on the United Nations Compensation Commission website located at [You must be registered and logged in to see this link.]
PRESS RELEASE
GOVERNING COUNCIL OF UNITED NATIONS COMPENSATION COMMISSION
CONCLUDES ITS SEVENTY-THIRD SESSION
The Governing Council of the United Nations Compensation Commission, under the
Presidency of Ambassador Hanns Heinrich Schumacher (Germany), has today concluded its seventythird
session. At this session, the Council elected Morocco as its second Vice-President. South Africa
currently holds the other vice-presidency.
Delegations from Iraq, including the Head and members of Iraq’s Committee of Financial
Experts, Jordan, Kuwait and Saudi Arabia addressed the fifteen-member Governing Council at its
opening plenary meeting.
The Governing Council continued its consideration of progress made by the participating
Governments under the Follow-up Programme for Environmental Awards since the adoption of
decision 269 (S/AC.26/269 (2011)) concerning the fulfilment of the Programme in the near term and
opened consultations with the participating Governments on the political assurances that will
ultimately be obtained under this decision.
In its consideration of the issue of arrangements for ensuring payments are made to the
Compensation Fund, the Governing Council noted its appreciation of the continued deposits to the
Compensation Fund since the transfer of the oversight of Iraqi oil revenues to the Iraq Committee of
Financial Experts in July 2011. The Council welcomed confirmation that a mechanism for the
valuation and transfer of 5 per cent of non-monetary payments of petroleum, petroleum products and
natural gas had been put in place by Iraq in compliance with Security Council resolution 1956 (2010).
The Council also considered a report from the Executive Head of the UNCC Secretariat on the
activities of the Commission since the last session; and a report on payment of awards and distribution
of payments to successful claimants, the transparency of the distribution process, and the return of
undistributed funds.
At present, $16 billion remains owing to Kuwait for distribution to six successful claimants.
Claims are paid with funds drawn from the United Nations Compensation Fund, which currently
receives 5 per cent of the proceeds generated by the export sales of Iraqi petroleum and petroleum
products in accordance with Security Council resolution 1483 (2003) and affirmed in subsequent
resolutions, most recently in Security Council resolution 1956 (2010).
The Council decided to hold its next regular session from 27 – 29 November 2012.
Further information about the Commission, including the text of Governing Council decisions,
can be found on the United Nations Compensation Commission website located at [You must be registered and logged in to see this link.]
