By John Lee. Reuters reports that Kuwait has accepted an Iraqi government request to delay payment of $4.6 billlion in war reparations, pending further discussions in Geneva. The reparations were imposed by the U.N. Security Council following Iraq's 1990 invasion of Kuwait, but the country's finances have been strained by the falling oil price and […]
By John Lee. Iraq's Finance Minister, Hoshyar Zebari (pictured), has told Reuters that he is trying to postpone the final $4.6 billion installment of reparations for its 1990-91 occupation of Kuwait. To fund its reparations commitments, Iraq pays 5 percent of its crude oil exports to the U.N. Compensation Commission (UNCC). So far, nearly all […]
The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses due to Iraq’s 1990 invasion of Kuwait, today made $1.19 billion (1.4 trillion Iraqi dinars) available to the Government of Kuwait. With today’s payment, the Commission has disbursed $46.7 billion, leaving approximately $5.7 billion remaining to be directed to […]
By John Lee. The United Nations Compensation Commission has paid $990 million to Kuwait resulting from Iraq's 1990 invasion of the country. The payment brings the total paid so far to $45.5 billion, leaving approximately $6.9 billion remaining to be paid. (Source: United Nations Compensation Commission) (Dollars image via Shutterstock)
The United Nations Compensation Commission has made available $1.03 billion to the Government of the State of Kuwait towards the Commission’s remaining claim with an outstanding award balance. The United Nations Compensation Commission was established in 1991 in accordance with Security Council resolutions 687 (1991) and 692 (1991) to process claims and pay compensation for […]
By John Lee. The head of Kuwait's Compensation Claims Commission, Khaled Al-Mudhaf, has told KUNA news agency that Iraq paid Kuwait $1.3 billion in January and $1.13 billion on 25th April, as part of the compensation due for the invasion in 1990. Arabian Business reports that during a speech at the Geneva-based UN Compensation Commission, […]
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 […]
The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses due to Iraq’s 1990 invasion of Kuwait, made $880 million available to nine successful claimants on Thursday. The latest round of payments brings the total amount of compensation disbursed by the Commission to $32.2 billion for more than 1.5 […]
