SAWT BEIRUT INTERNATIONAL

| 6 October 2022, Thursday |

UN panel wraps up after Iraq pays $52.4 billion for Kuwait invasion

A UN committee established to seek reparations from Iraq for its invasion of Kuwait in 1990 published its final report in Geneva on Wednesday, after paying $52.4 billion to the small Gulf state.

The commission was established in 1991 by UN Security Council Resolution 692 to administer financial reparations due by Iraq to Kuwait. The funds were earned by a 5% tax on the sale of oil and other petroleum products.

On August 2, 1990, Iraq’s Saddam Hussein ordered his troops to invade Kuwait and conquer what he called “Iraq’s 19th province,” only to be forced back seven months later by a US-led coalition.

Private people, businesses, government institutions, and other organizations who sustained losses as a direct result of Iraq’s invasion and occupation of Kuwait were among those who received war reparations.

Over the commission’s 30-year lifespan, about 2.7 million compensation claims were filed, with the agency paying out $52.4 billion of the $352 billion sought.

According to the report formally accepted in Geneva on Wednesday, the last payment was made on January 13 for a total of roughly $630 million.

“While this amount of time may appear excessive, it is crucial to realize that the settlement of over 2.7 million claims with an alleged value of $352 billion during this period of time has no parallel in the history of international claims resolution,” according to the paper.

“This achievement is notable and has helped to post-conflict reconciliation, underlining the value and necessity of international law,” the statement continued.

    Source:
  • alarabiya