World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


Over $1 Billion in Reparations for Iraq's Invasion of Kuwait

UN Panel Pays Out Over $1 Billion in Reparations for Iraq's Invasion of Kuwait

New York, Jul 25 2013 - 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 $1.07 billion available to the Government of Kuwait.

The remaining category E claim was submitted by the Government of Kuwait on behalf of the Kuwait Petroleum Corporation, stated a news release issued by the Geneva-based Commission.

In 2000, the claim was awarded $14.7 billion for oil production and sales losses as a result of damages to Kuwait's oil field assets and represents the largest award by the UNCC's Governing Council.

With this payment, the Commission has paid out $42.3 billion of its total awarded amount of $52.4 billion to over 100 governments and international organizations for distribution to 1.5 million successful claimants in all claim categories, leaving approximately $10.1 billion remaining to be paid.

Successful claims are paid with funds drawn from the UN Compensation Fund, which is funded by a percentage of the proceeds generated by the export sales of Iraqi petroleum and petroleum products.

The UNCC's Governing Council has identified six categories of claims: four are for individuals' claims, one for corporations and one for governments and international organizations, which also includes claims for environmental damage.

The Commission was established in 1991 as a subsidiary organ of the UN Security Council. It has received nearly three million claims, including from nearly 100 governments for themselves, their nationals or their corporations.

For more details go to UN News Centre at http://www.un.org/news

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

UNHCR: More Than 300 Die In Boat Tragedies On Mediterranean

The past few days have been the deadliest this year for people making irregular crossings on the Mediterranean from North Africa to Europe More>>

UN: Egyptian Crossing Used To Bring Food Aid To Gaza
United Nations World Food Programme (WFP) successfully crossed from Egypt into the Gaza Strip today, carrying enough food to feed around 150,000 people for five days More>>

ALSO:

Extended Cease Fire: Gaza Celebrates!!!!

Images and video from Gaza.Scoop - Julie Webb Pullman in Gaza. Gazans took to the streets tonight to celebrate their victory in achieving the end of hostilities and the lifting of the illegal seven-year siege. Whatever tomorrow may bring, tonight was a time to rejoice! More>>

ALSO:


Iraq: Killing Of Dozens Of Sunni Worshippers In Eastern Iraq

22 August 2014 – Condemning in the strongest terms the reported attack on a mosque in eastern Iraq, Secretary-General Ban Ki-moon today called on all Iraqi authorities to ensure that the attack is properly investigated and its perpetrators held to account. More>>

ALSO:

  • UN Watch - UN Urgent Session on Iraq, Demands "Concrete Outcomes"
  • UNICEF: Honours Life, Tireless Work Of Richard Attenborough

    Film producer and director Sir Richard Attenborough was introduced as the new Goodwill Ambassador for the UN Children's Fund (UNICEF) on 28 October 1987. UN Photo/Milton Grant More>>

    UN: Flight Restrictions Hamper Ability To Battle Ebola

    UNICEF and partners visit a crowded market in Conakry, Guinea, to explain to vendors how they can protect themselves and their families from Ebola. Photo: UNICEF Guinea More>>

    Get More From Scoop

     
     
     
     
     
    World
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news