Washington stops the automatic deduction of Iraqi oil revenues to compensate Kuwait
Washington stops the automatic deduction of Iraqi oil revenues to compensate Kuwait
2021-12-09
The Chairman of the Committee of Financial Experts, Abdul Basit Turki, revealed today, Thursday, that the US Federal Reserve has stopped the automatic deduction from Iraqi oil revenues in favor of Kuwait’s compensation.
Turki said in a press interview, “The Committee of Experts received a notification from the Central Bank of Iraq and the Compensation Committee, stating that the US Federal Reserve had stopped the deduction.”
Pointing out that “a final batch of Kuwait’s compensation amounting to 43 million dollars remains to be paid through the Central Bank of Iraq in one go, so that Iraq will end these compensations in full, which amount to 52.38 billion dollars.”
And he indicated that Iraq should seek to get out of the provisions of Chapter VII of the UN Charter.
Turki called for “the Ministry of Foreign Affairs and the concerned authorities to move to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely.”
The Iraqi government intends to pay the last batch of compensation for the Kuwait war, before the end of this year, after depositing, the day before yesterday (Tuesday), more than 207 million US dollars, in the compensation account with the US Federal Reserve, to end the compensation file completely.
The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $ 52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait.
Iraq stopped making payments in 2014 during the war on ISIS, the terrorist organization that took control of large parts of the country, but it resumed payments in 2018.
burathanews.com
