UN Secretary-General: Iraq has paid 48.3 billion dollars in compensation to Kuwait so far

UN Secretary-General: Iraq has paid 48.3 billion dollars in compensation to Kuwait so far

04.07.2019 9:21

UN Secretary-General - Iraq has paid 48.3 billion dollars in compensation to Kuwait so farBaghdad today – follow-up

The Secretary-General of the United Nations, Antonio Guterich, told the UN Security Council that the total amount of Iraq paid to Kuwait, because of the invasion by former Iraqi President Saddam Hussein, in 1990, has so far reached 48 billion and 300 million dollars.

This is stated in the semi-annual report of the Secretary-General to the members of the Council on Iraq’s compliance with resolution 1483 of 2003.

The resolution provides that Iraq will deposit 5 per cent of its export earnings from oil, gas and oil sales into an international fund established under the United Nations Fund United Nations Compensation Commission.

In 1991, a UN Compensation Commission was formed, committing Baghdad to pay $ 52.4 billion in compensation to individuals, corporations, government organizations and others who suffered losses directly resulting from the invasion and occupation of Kuwait.

The report of the Secretary-General to the Security Council deals with developments since the issuance of his fifteenth report on 7 January 2019.

“Since my previous report, the Compensation Commission has paid two quarterly installments to Kuwait, the first of $ 100 million on January 18, 2019 and the second $ 240 million on April 23, 2019.” Guterich said in his report.

“After the payment of these payments, the total compensation paid by the Committee so far is 48.3 billion dollars, and thus remain about $ 4.1 billion, should be paid to Kuwait to settle the last remaining claim.”

“Based on the current revenue levels of the Fund, the Commission is still going to pay the unpaid claim in 2021, which will end its mandate.”

In his report, the Secretary-General expressed satisfaction with the continuing commitment of the Government of Iraq to comply with its obligations to deposit the amounts due to the Fund.

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