Legal expert: The end of the payment of Kuwait’s compensation has nothing to do with Iraq’s exit from Chapter VII

Legal expert: The end of the payment of Kuwait’s compensation has nothing to do with Iraq’s exit from Chapter VII

2021-12-22 07:37

Legal expert - The end of the payment of Kuwaits compensation has nothing to do with Iraqs exit from Chapter VIIShafaq News/ Legal expert Tariq Harb confirmed today, Wednesday, that the payment of the last batch of Kuwait’s compensation has nothing to do with Iraq’s exit from Chapter VII.

Harb told Shafaq News Agency, “Chapter VII was lifted several years ago, and what has now ended with regard to the debt committee that was based on Chapter VII by deducting sums from Iraq,” noting that “Iraq after exiting Chapter VII was able throughout The past years of buying weapons and the process of trading in all things, and thus the completion of the payment of compensation, has nothing to do with Iraq’s exit from Chapter VII.

Harb added, “After it paid the last amount of $44 million, all compensation under Security Council Resolution 87 of 1991 ended,” adding at the same time, that “these debts were not even applied under Chapter VII when payments were postponed in 2014 with The entry of ISIS and the drop in oil prices.

The Central Bank had announced yesterday, Tuesday, the payment of the last batch of compensation to Kuwait amounting to (44) million US dollars, expressing the hope that the termination of the payment of compensation will contribute to removing Iraq from Chapter VII.

Iraq had to deposit 5 percent of its export revenues from sales of oil, its products and gas, before reducing it to 3 percent in 2018 in a UN fund that was established under the name of the United Nations Compensation Fund.

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.

shafaq.com