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$1B Reparations Paid Out For Kuwait Invasion
Nearly $1 billion paid out by UN reparations panel for invasion of Kuwait
29 April 2008 - The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses because of Iraq's 1990 invasion of Kuwait, today announced the disbursement of some $972.4 million to 26 successful claimants.
Today's amount brings the overall total compensation issued by the UNCC to individuals, corporations, governments and international organizations to $24.3 billion.
Eighteen other claims, including five environmental claims, remain to be paid in the future, the UNCC said.
The vast majority of funds for compensation payments have come from the sale of Iraqi petroleum under the so-called Oil-for-Food programme, which came to an end in 2003, and later within the scope of arrangements made under Security Council resolutions.
ENDS
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