Iraq resumes payments to Kuwait

GENEVA/BAGHDAD: Iraq resumed paying Kuwait compensation on Friday for the destruction of Kuwaiti oilfields and facilities during the 1990-91 Gulf War, the United Nations said in Geneva in a prepared statement. The payment had been suspended since Oct 2014 because of security and budgetary problems the Iraqi government in its fight against Islamic State.

“The United Nations Compensation Commission (UNCC) today made available $90 million to the Government of the State of Kuwait,” the UN said. “With today’s payment, the Commission has paid out $47.9 billion, leaving approximately $4.5 billion remaining to be paid to the only outstanding claim.” The sum owed, as well as the $90 million payment, goes towards an overall claim of $14.7 billion in damages by the Kuwait Petroleum Corporation, the largest approved by the Geneva-based commission, set up by the UN Security Council in 1991. – Reuters

This article was published on 21/04/2018