Baghdad The United Nations Compensation Committee announced today, Wednesday, that Iraq has completed the payment of 52.4 billion dollars to compensate individuals, companies and governments who proved that they had suffered damages due to its invasion of Kuwait, in 1990.
Reuters reported: “The Compensation Committee, which was formed by the Security Council after the seven-month Iraqi occupation and the defeat of President Saddam Hussein’s forces, led by the United States in the Second Gulf War, has received a portion of the proceeds from oil sales, while the percentage varied over the thirty years and was recently 3%”.
In total, the Compensation Commission received about 2.7 million compensation requests, worth $352.5 billion.
But the committee approved 1.5 million applications that met the required conditions, and their owners received $52.4 million. The value of the largest claim approved by the committee for compensation amounted to $14.7 billion, and it was in favor of the Kuwait Petroleum Corporation for the damages it sustained after Iraqi forces set fire to oil wells.
Payments were suspended between October 2014 and April 2018, due to the government’s security and budgetary problems during its fight against ISIS.
The Geneva-based Compensation Committee said, in a statement after a closed meeting of its Board of Directors: With the final payment of compensation on January 13, 2022, all compensation approved by the Committee has now been paid in full.
The committee added: “The government of Iraq has fulfilled its international obligations to compensate all applicants whom the committee agreed to compensate for the losses and damages they sustained as a direct result of Iraq’s illegal invasion of Kuwait.”
The US ambassador to the United Nations in Geneva, Bathsheba Crocker, said on her Twitter page: “We commend Iraq for completing the payments for all applications submitted by the United Nations Compensation Commission… It is a historic achievement.”
Source: National Iraqi News Agency