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UN Pays Reparations for Iraq's Invasion of Kuwait


yota691
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PR/2013/8 24 October 2013 
 
PRESS RELEASE 
 
 
Today, the United Nations Compensation Commission made available $1.24 billion to the 
Government of the State of Kuwait towards the Commission’s remaining claim with an outstanding award 
balance. 
 
The United Nations Compensation Commission was established in 1991 in accordance with Security 
Council resolutions 687 (1991) and 692 (1991) to process claims and pay compensation for losses and 
damages incurred by individuals, corporations, Governments and international organizations as a direct 
result of Iraq’s invasion and occupation of Kuwait (2 August 1990 to 2 March 1991). The Commission 
received approximately 2.7 million claims and concluded its review of all claims in 2005. Approximately 
$52.4 billion was awarded to over 100 Governments and international organizations for distribution to 1.5 
million claims in all claim categories. 
 
Successful claims are paid from the United Nations Compensation Fund which receives five per cent 
of the proceeds generated by the export sales of Iraqi petroleum and petroleum products in accordance with 
Security Council resolution 1483 (2003), and reaffirmed in a number of subsequent resolutions, most 
recently under Security Council resolution 1956 (2010). Pursuant to Governing Council decision 267 (2009), 
payments are made on a quarterly basis utilising all available funds in the Compensation Fund. 
 
With today’s payment, the Commission has paid out $43.5 billion, leaving approximately $8.9 
billion remaining to be paid to the only outstanding claim. This category E claim was submitted by the 
Government of the State of Kuwait on behalf of the Kuwait Petroleum Corporation and awarded $14.7 
billion in 2000 for oil production and sales losses as a result of damages to Kuwait’s oil field assets. It 
represents the largest award by the Commission. 
 
Further information about the Commission, including the text of Governing Council decisions, can 
be found on the United Nations Compensation Commission website located at www.uncc.ch. 
 

 



As I have stated before....IMO...Chapter 7 has not been complete remove with Iraq....you only  get the title when it Stamp Paid in Full.... :eyebrows: 

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UN Pays Reparations for Iraq’s 1990 Invasion of Kuwait

Friday, 25 October 2013, 12:03 pm
Press Release: UN News

UN Panel Pays Out Over $1.2 Billion in Reparations for Iraq’s 1990 Invasion of Kuwait

New York, Oct 24 2013 - The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses due to Iraq’s 1990 invasion of Kuwait, today made $1.24 billion available to the Government of Kuwait.

With today’s payment, the Commission has disbursed $43.5 billion, leaving approximately $8.9 billion remaining to be directed to the only outstanding claim, stated a news release issued by the Geneva-based Commission.

This category E claim was submitted by the Government of Kuwait on behalf of the Kuwait Petroleum Corporation and awarded $14.7 billion in 2000 for oil production and sales losses as a result of damages to Kuwait’s oil field assets. It represents the largest award by the Commission.

Successful claims are paid with funds drawn from the UN Compensation Fund, which receives five per cent of the proceeds generated by the export sales of Iraqi petroleum and petroleum products.

The Commission was established in 1991 as a subsidiary organ of the UN Security Council. It has received nearly three million claims, including from nearly 100 governments for themselves, their nationals or their corporations.

For more details go to UN News Centre at http://www.un.org/news

ENDS

 

© Scoop Media

 

 
 
 
 
 
 

 

 

Edited by Markinsa
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Ch. 7 has been removed as of June 27, 2013

  • The Security Council today decided to remove Iraq from its obligations under Chapter VII of the United Nations Charter concerning the return of Kuwaiti and third-State nationals or their remains and their property seized by Iraq’s former regime during its 1990 invasion of Kuwait.

 

Unanimously adopting resolution 2107 (2013), the 15-member body welcomed the Secretary-General’s report (document S/2013/357) on that subject and called on the Iraqi Government to give the International Committee of the Red Cross (ICRC) any information available on the Kuwaiti and third-country nationals, and to facilitate the ICRC’s access to them and their remains, as well as theICRC’s search for missing persons and property, including Kuwait’s national archives.

 

Further to the text, the Council asked the Special Representative of the Secretary-General and the Head of the United Nations Assistance Mission for Iraq (UNAMI) to facilitate efforts towards that end.  It also asked the Secretary-General to consider charging his Deputy Special Representative at UNAMI covering political affairs to oversee Iraq-Kuwait issues.

 

  • Following the adoption, Hoshyar Zebar, Iraq’s Foreign Minister, said the text marked a turning point in Iraq’s relationship with the international community and a significant step in Iraq’s and Kuwait’s joint efforts to mend bilateral ties.  Further, it illustrated that Iraq had fulfilled all its obligations under Chapter VII of the Charter.

http://www.un.org/News/Press/docs/2013/sc11050.doc.htm

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Wow, Thanks Yota. Seems like there is a lot of news coming out lately. From the gurus section with Delta saying that as of 21 Oct. Western-Union is no longer wiring dinar, Dinar Trader is no longer reserving dinar, as of 22 Oct. and that Iraq's whats to open branch banks offices world wide - today. Now this being done, things are getting interesting.

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