The United Nations Compensation Commission has made another $1,038,375,281 available to the Government of Kuwait for distribution to eight successful claimants in compensation for Iraq’s 1990 invasion.
This payment leaves approximately $18 billion outstanding to six compensation awards.
Successful claims are paid with funds drawn from the United Nations Compensation Fund, which is funded by a percentage of the proceeds generated by the export sales of Iraqi petroleum and petroleum products.
This percentage was set at 5 per cent under Security Council resolution 1483 (2003), and reaffirmed in a number of subsequent resolutions, most recently under Security Council resolution 1956 (2010).
(Source: United Nations)