Kuwaiti official: Kuwait is still waiting for $ 11.2 billion in compensation from Iraq

Author: Bian4 on: Wednesday 05/01/2013 10:47 am


Source: Baghdad




BAGHDAD / WAP / Kuwait announced that it has received since the beginning of the year, 2.43 billion dollars in compensation from Iraq, but is still waiting to receive compensation of $ 11.2 billion for the "invasion" that was subjected to during the reign of Saddam Hussein's regime in August 1990, according to What announced by a senior Kuwaiti official.


The head of the Board of Directors of the General Authority to estimate Altaweidatkhald of Almudaf in a press statement that "Kuwait has received $ 1.3 billion in January and $ 1.13 billion on April 25."

And called Almudaf Iraq to continue to pay 5 percent of its oil revenues to the Compensation Fund to ensure payment of all damages incurred by him on a regular basis.

Kuwait and got $ 30 billion of the total $ 41 billion established by the United Nations in compensation for the damage to Kuwait because of the invasion of August 1990 to February 1991.


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Page 1
PR/2013/3
25 April 2013
PRESS RELEASE


UNITED NATIONS COMPENSATION COMMISSION PAYS OUT US $ 1.13 BILLION
Today, the United Nations Compensation Commission made ​​available $ 1.13 billion to the
Government of the State of Kuwait towards the Commission's remaining claim with an outstanding balance.

With this payment, the Compensation Commission has paid out $ 41.2 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 $ 11.2 billion remaining to be paid.

The remaining category E claim was submitted by the Government of the State of Kuwait on behalf of the Kuwait Petroleum Corporation. 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 United Nations Compensation Commission's Governing Council.

Pursuant to Governing Council decision 267 (S/AC.26/Dec.267 (2009)), payments are made ​​to
outstanding claims on a quarterly basis in rounds of $ 10 million. Successful claims are paid with funds drawn from the United Nations Compensation Fund, which is funded by a percentage of the proceeds generated by the export sales of Iraqi petroleum and petroleum products. This percentage is currently five per cent pursuant to Security Council resolution 1483 (2003), and reaffirmed in a number of subsequent resolutions, most recently under Security Council resolution 1956 (2010).

Further information about the Commission, including the text of Governing Council decisions, can
be found on the United Nations Compensation Commission website located at www.uncc.ch


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This Number that I am posting is what is left of what Iraq owes $11,211,165,997