UN sanctions committee decides to compensate Kuwait from the Iraqi oil
Iraq-Kuwait, Politics, 3/16/2001

The UN sanctions committee which supervises the " oil for food program" has decided to allocate a sum of $ 2.4 billion from the Iraqi oil revenues as compensations for Kuwait and other sides which were damaged from the Gulf war.

The government of Kuwait will receive some $ 2.2 billion as compensations and Kuwaiti companies will receive $ 142 million and the remained sum will go to foreign companies which were harmed from the war.

The committee received some 2.6 million compensation requests from the governments, companies and individuals estimated at USD 300 billion and so far the committee paid USD 32 billion for those who were considered harmed, the largest sum went to the Kuwaiti oil company estimated at USD 15.9 billion.

The committee, however, has started to receive less ( costs ) compensation requests and is now considering larger compensation requests. The largest request for compensation was submitted by the Kuwaiti government and estimated at $ 46 billion and relates to environmental damages which Kuwait says resulting from the Iraqi invasion.

Previous Stories:
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  On killing of American soldiers in Kuwait   (3/14/2001)
  No economic, security future for gulf without Iraq, Kuwaiti diplomat   (3/2/2001)

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