The United Nations Security Council is due to meet today to discuss the removal of Iraq, partially or fully, from Chapter VII of the UN Charter.
The sanction, which threatens with "action by air, sea, or land forces as may be necessary to maintain or restore international peace and security", was imposed on Iraq following its invasion of Kuwait, and it has remained in place despite the change of regime.
But relations between the countries have improved dramatically in recent times, and a high-level Kuwaiti visit to Baghdad in earlier this month was seen as significant.
The main outstanding item is the issue of reparations. Baghdad has so far paid Kuwait $30 billion of the $41 billion it owes, but Foreign Minister Hoshyar Zebari expects the balance to be paid by 2015.
At Iraq Business News, we look forward to some positive news from the United Nations later today.