Kuwait Gets $650m in Iraqi Reparation

The United Nations released $650 million in Iraqi compensation to Kuwait on Thursday, the latest payment of a war reparation scheme that began in 1994.

The payment brings the total sum of compensation paid to Kuwait to $30.1 billion dollars. A further $22.3 billion is due to Kuwait.

Most of the latest round went to state and private companies, governments and international organisation, according to a statement from the UN Compensation Commission, which is a subsidiary of the United Nations Security Council.

Following the 1991 invasion of Kuwait by Saddam Hussein's regime, Iraq is required to put five percent of its oil and gas revenues into the UN reparations fund.

As it has struggled with insecurity and a raft of economic problems since 2003, Iraq has been appealing for its payments to be reduced.

In May, Iraqi Oil Minister Hussein al-Shahristani renewed the call for Kuwait to "forget the past," saying his country could not sustain the obligation.

(Sources: AFP, UN Compensation Commission)

Related articles:

Comments are closed.