Compensations from Kuwait's invasion is $ 52.5 billion
Iraq-Kuwait, Politics, 7/1/2005

The UN announced on Thursday that the special United Nations Compensation Commission (UNCC), stemmed from Iraq's invasion of Kuwait in 1990, ratified total final compensations which reached USD 52.5 billion of which some USD 19.2 billion have been so far paid.

The spokesman for the committee Joe Selies said that the committee is "dealing with the filed cases demanding compensations, noting that the operation of paying compensations which is made by deducting 5% of Iraqi oil sales, will continue."

Since the appointment of the first panels in 1993, over 2.68 million claims, seeking approximately $354 billion in compensation, have been resolved by the various panels of Commissioners.

However, Selies also indicated that some USD 367 million were paid on Thursday to several sides demanding compensation including the governments of Iran, Jordan and Saudi Arabia because of damages inflected on their natural resources because of the invasion of Kuwait.

Previous Stories:
  Jaafari is once again in Kuwait   (6/30/2005)
  Jaafari is once again in Kuwait   (6/30/2005)
  Kuwait to exchange diplomats with Iraq   (4/23/2005)
  Iraq demands lifting sanctions, halt inspection finance   (2/3/2005)
  Elyawer in Kuwait carrying the two files of compensations, debts   (11/1/2004)
  The first visit for an Iraqi president, Elyawer in Kuwait today   (10/30/2004)
  Kuwait: $ 367 million for persons damaged from the Iraqi invasion   (9/25/2004)
  Kuwait, Saudi Arabia cling to compensations   (6/30/2004)
  Bremer wants Kuwait and Saudi Arabia to stop asking Iraqis for money   (9/29/2003)
  UN panel pays out $ 513 mln in damages arising from Iraqi invasion of Kuwait   (7/20/2001)
  Iraqi authorities criticize UN Security Council   (5/19/1999)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search