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

 


UN:$1.2 billion in reparations for Iraq’s invasion of Kuwait

UN panel pays out nearly $1.2 billion in reparations for Iraq’s invasion of Kuwait

24 July 2014

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 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 the only outstanding claim, stated a news release issued by the Geneva-based Commission.

This category E claim was submitted by the Government of Kuwait on behalf of the Kuwait Petroleum Corporation and awarded $14.7 billion in 2000 for oil production and sales losses as a result of damages to Kuwait’s oil field assets. It represents the largest award by the Commission.

Successful claims are paid with funds drawn from the UN Compensation Fund, which receives five per cent of the proceeds generated by the export sales of Iraqi petroleum and petroleum products.

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 losses and damages incurred as a direct result of Iraq’s invasion and occupation of Kuwait from 2 August 1990 to 2 March 1991.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Lack Of Funds Forces UN Agency To Halt Gaza Rebuild

Lack of funds forces UN agency to halt Gaza programme for repairs to destroyed homes More>>

ALSO:

Freeport Wins 6-Month Export Extension

An aerial view shows the site of the Grasberg Mine, operated by US.-based Freeport-McMoRan, in Papua in this Nov. 4, 2010 file photo. (Reuters Photo/Muhammad Yamin) More>>

ALSO:

Former Malaysian Prime Minister Speaks Out Against Sarawak

After receiving a letter from the network of communities affected by the dams, Malaysia’s former Prime Minister Mahathir Mohamad criticises the Sarawak government’s multi-dam initiative More>>

Egypt: UN Rights Chief Urges End To Excessive Use Of Force

As police, protesters clash in Egypt, UN rights chief urges end to excessive use of force More>>

Ukraine: Minsk Peace Accords Must Be Revived

Jeffrey Feltman, Under-Secretary-General for Political Affairs, addresses the Security Council on the situation in Ukraine. UN Photo/Eskinder Debebe More>>

ALSO:

Connie Lawn: Middle East Turmoil

There is always turmoil in the Mid East but at this time three major developments have broken at the same time. In Saudi Arabia 91 year old King Abdullah has died... In Yemen, the President and his top advisors have resigned. More>>

ALSO:

Russia Supports Indonesia`s Possible Move To Buy Sukhoi 35

Jakarta (ANTARA News) - The Russian government supports Indonesias wish to buy the multipurpose fighter jet Sukhoi 35 to enhance the countrys air force. More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news