Kuwait: the remaining funds from our compensation Iraq is estimated at 8.899 billion dollars

22/11/2013 - 19:47


Alsumaria News / Baghdad
Administration announced the Public Authority for Assessment of Compensation for losses of Kuwait by Iraq, said Friday that the remaining amount of Kuwait estimated 8.899 billion dollars, stressing the need to continue to maintain a transparent mechanism to ensure scrutiny of the amounts transferred to the Compensation Fund.

Quoted by Kuwait News Agency "KUNA" the head of the body Khaled Al-Mudhaf as saying during his speech to the session 76 of the United Nations Commission on Compensation in Geneva, and followed up with "Alsumaria News", "The remainder of the amount of damages of Kuwait by Iraqi estimated at 8.899 billion dollars, after that, we received 1.07 billion dollars in (July 25, 2013) followed by the second batch amounted to 1.24 billion dollars (24 October 2013), "noting that" Kuwait is looking to continue to receive future payments on a quarterly basis until the full repayment of the amounts of compensation. "

He Almudaf to "enhance further the Kuwait receipt of these payments depends on the continued flow of income compensation fund in accordance with the decisions of the relevant Security Council," stressing the "importance of continuing to deposit a regular in the Compensation Fund for five percent of the proceeds from all export sales of Iraqi petroleum and petroleum products and natural gas, according to UN Security Council Resolution 1956 as well as five percent of the value of any non-cash payments for oil and petroleum products and natural gas. "

The Almudaf that "Kuwait also stresses the importance of continuing to maintain a transparent mechanism to ensure scrutiny of the amounts transferred to the Compensation Fund," adding, "It commends the continuous commitment of Iraq to fulfill its obligations."

He Almudaf that "the continuation of the deposit these amounts in the Compensation Fund will bring us closer all of the final completion of the task of the Board of Directors regarding the payment of full compensation," explaining that "Kuwait is committed to what was agreed upon from the beginning of 2008 to meet Iraq and Kuwait under the auspices of the United Nations Compensation to discuss the remaining funds. "

He Almudaf to "ensure the payment of the remaining amounts owed to Kuwait is the responsibility of the Board of Directors in accordance with its primary functions, but this should not be on the United Nations Commission on Compensation of efforts to shrink until it is to pay the full amount."

The compensation committee of the Gulf War, the United Nations in Geneva announced, in October 24, 2013, they put the amount of 1.24 billion dollars of Iraqi oil sales under the command Kuwaiti government, as part of the compensation owed to Kuwait for losses suffered as a result of Iraq's invasion of Kuwait in 1991.

And established the compensation committee of the Gulf War, the United Nations, based in the Swiss capital, Geneva, by the UN Security Council in 1991, and is financed by a tax of 5% on Iraqi oil exports.

The Foreign Minister Hoshyar Zebari said, in the May 30, 2013, that Iraq is committed to pay the remainder of the war reparations Kuwait, noting that the percentage of deduction from Iraqi oil sales to compensate Kuwait for the Gulf War was her time of 30%, and then was reduced to 25% and then to 5%.


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