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

 

Whaling: Japan’s Institute for Cetacean Research In Defiance Of World Court Ruling

The ICR Today Filed Court Briefs Stating They Intend to Return to Antarctica to Hunt Whales in 2015-2016; Will Seek to Enjoin Other Sea Shepherd Entities from Obstructing Their Operations More>>

Ukraine: UN Urges 'Maximum Restraint' Amid Situation In East Ukraine

Deeply concerned by the deteriorating situation in eastern Ukraine, United Nations Secretary-General Ban Ki-moon has called for maximum restraint and appealed to all sides to work towards calming the situation, which has the 'growing potential' to ... More>>

United Nations: Children Can Now Lodge Complaints With The UN

GENEVA (14 April 2014) – United Nations child rights experts have hailed a new treaty that allows children to complain directly to the UN Committee on the Rights of the Child about alleged violations of their rights. More>>

India: Election But A Ritual In Nation Lacking Rule Of Law

The Asian Human Rights Commission (AHRC) congratulates the people of India for their participation to elect the 16th Lok Sabha. The process has attracted, as usual, considerable media attention across the world. Media claims the process to be 'the largest democratic ... More>>

Solomon Islands: Thousands Remain Affected After Flash Floods

An estimated 52,000 people remain affected in the worst-hit areas of Honiara and greater Guadalcanal following last week’s devastating floods which killed at least 23 people. More>>

ALSO:

World: Some 437,000 People Murdered Worldwide In 2012 - UN

Almost half a million people across the world lost their lives in 2012 as a result of intentional homicide, with the highest murder rates logged in the Americas and Africa, and the lowest in Europe, Asia and Oceania, the United Nations Office on ... More>>

Central African Republic:: Security Council Establishes UN Peacekeeping Mission

Deeply concerned about the deteriorating security situation and ongoing human rights abuses in the Central African Republic (CAR), the Security Council today approved the establishment of a nearly 12,000-strong United Nations peacekeeping operation ... More>>

ALSO:

Parliament: NZ Sending Aid Flight To Solomons

Foreign Affairs Minister Murray McCully has announced further support for the response to severe flooding in Solomon Islands. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news