Iraq pays Kuwait $490 million in compensation for the invasion

Iraq pays Kuwait $490 million in compensation for the invasion

November 03, 2021 08:44 AM

Iraq pays Kuwait 490 million in compensation for the invasionKuwait – Mubasher: Iraq announced, on Monday, the payment of 490 million dollars in compensation for the brutal invasion of Kuwait.

The Baghdad embassy in Kuwait said, in a statement published by the newspaper, that “Iraq paid last Tuesday 490 million dollars of the compensation amounts determined by the United Nations Compensation Committee due to the ousted regime’s invasion of the State of Kuwait in the early nineties of the last century.”

The statement indicated that “Iraq will work to pay the remaining amount of compensation, estimated at about 629 million dollars, at the beginning of next year 2022.”

In 1991, a UN Compensation Committee was formed, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others, who incurred losses resulting directly from the invasion and occupation of Kuwait.

Iraq had stopped making payments in 2014 during the war on ISIS, which controlled a third of the country, but it resumed in 2018.

Iraq pays the amount of compensation to a UN fund established under the name of the United Nations Compensation Fund.