Iraq pays 270 million dollars for compensation for the invasion of Kuwait

[davis411]

Be happier if I saw in the head lines

millions transferred to Davis 

[Rugbylaird19]

"Leaving only 4.4 billion dollars remaining for this claim" No problem, just check under Maliki's mattress. Still, excellent news. I like to see loose ends tied up.

[Half Crazy Runner]

3 minutes ago, Rugbylaird19 said:

"Leaving only 4.4 billion dollars remaining for this claim" 

 

That bit jumped out at me too 😆  ONLY  $4.4 billion 

[Starrider]

And this means something how, No button will be pushed everything will stay the same tomorrow and the next and the next.

 

Starr

[blueskyline]

32 minutes ago, Starrider said:

And this means something how, No button will be pushed everything will stay the same tomorrow and the next and the next.

 

Starr

tiny steps ? * batting eyes *..........Its been a long ride for sure . We are getting there ever so slowly ...

[steveh12]

Thanks for the info Blue.

Chin-up Star! 😎

[happygilmores]

Yep, I don't see this taking more than three or four years to happen. JMO!

[danielchu]

At 50$ bbl just one month is 8,333,333,333.33

 

Iraq can produce 2 billion barrels per year. At $100 per barrel, that oil would sell for$200 billion. The population of Iraq is 24 million and that oil income translates to $8000 per person.

Iraq Oil Wealth

 

https://www.auburn.edu/~thomph1/iraq.htm

[bigwave]

The UN?

 

That means WE The People paid that bill!

 

That sucks.....

[3n1]

3 hours ago, Starrider said:

And this means something how, No button will be pushed everything will stay the same tomorrow and the next and the next.

 

Starr

 

back in maliki's dictatorship when oil was north of a 100 bucks a barrel paying back kuwait was always a topic , he could of cared less he had fortunes to steal anyways the debt to kuwait was directly tied to sanctions against iraq to be honest i thought this had been handled already to where it wasn't an issue or that kuwait and iraq had a agreement for oil deal ... heck who knows bout all this ...  

[3n1]

24 minutes ago, danielchu said:

At 50$ bbl just one month is 8,333,333,333.33

 

Iraq can produce 2 billion barrels per year. At $100 per barrel, that oil would sell for$200 billion. The population of Iraq is 24 million and that oil income translates to $8000 per person.

Iraq Oil Wealth

 

https://www.auburn.edu/~thomph1/iraq.htm

 

http://www.worldometers.info/world-population/iraq-population/

 

.......cheers.......

[Gypsygirl11]

3 hours ago, Starrider said:

And this means something how, No button will be pushed everything will stay the same tomorrow and the next and the next.

 

Starr

LOL....sigh...we all feel ya! Been waiting 8 years. The hopefulness is wearing off, lol

[Butifldrm]

 

2018/10/23 19:25

• Number of readings 189
• Section: Iraq
•  

Gulf war compensation committee transfers $ 90 million to Kuwait

 

 

The United Nations Compensation Commission announced Tuesday (October 23rd, 2018) the transfer of 90 million dollars to Kuwait because of its invasion in 1990 as a result of the decision of former Iraqi President Saddam Hussein.

The Commission said in a press release that it had transferred $ 90 million to the Government of Kuwait within the framework of the only remaining claim for Category E compensation for losses and damages suffered by individuals, companies, governments and international organizations as a direct result of Iraq's invasion and occupation of Kuwait. She explained that it "will be paid from the total compensation for all categories up to $ 48 billion, leaving only $ 4.4 billion remaining for this claim the only remaining Kuwaiti."

The Commission added that "the claims for compensation was paid from 5% of Iraqi oil sales, which was reduced to 0.5% on the decision of the Board of the Committee to take into account the circumstances of Iraq's economic in 2017," noting that " Will escalate in subsequent years until compensation is paid in full. "

The UN Security Council approved the formation of the commission in 1991, the year in which the US-led coalition

forces pushed Saddam Hussein's forces out of Kuwait.

The Commission decided that Baghdad would pay $ 52.4 billion in compensation to individuals, corporations, government organizations and others who suffered losses directly resulting from the invasion and occupation of Kuwait. The source of the funds was a tax imposed on Iraq's oil and petroleum products sales.

 

http://almasalah.com/ar/news/153905/لجنة-تعويضات-حرب-الخليج-تحول-90-مليون-دولار-إلى-الكويتFollow the obelisk 

[ChuckFinley]

This is good news. Part of many of the talks was to to make sure Kuwait was compensated.  

[Half Crazy Runner]

2 hours ago, bigwave said:

The UN?

 

That means WE The People paid that bill!

 

That sucks.....

 

I think the UN is using Iraqi money they’ve been holding (not 100% positive though ..)

[danielchu]

11 hours ago, Half Crazy Runner said:

 

I think the UN is using Iraqi money they’ve been holding (not 100% positive though ..)

I think that the U.N is only making sure the funds were transfered to iraq per the U.N mandate for compensation!

[danielchu]

The United Nations Compensation Commission (UNCC) was created in 1991 as a subsidiary organ of the United Nations Security Council. Its mandate is to process claims and pay compensation for losses and damage suffered as a direct result of Iraq's 1990–1991 invasion and occupation of Kuwait which started the Gulf War.

https://uncc.ch/home

[Half Crazy Runner]

39 minutes ago, danielchu said:

The United Nations Compensation Commission (UNCC) was created in 1991 as a subsidiary organ of the United Nations Security Council. Its mandate is to process claims and pay compensation for losses and damage suffered as a direct result of Iraq's 1990–1991 invasion and occupation of Kuwait which started the Gulf War.

https://uncc.ch/home

 

Thanks for the info danielchu! 👍🏻

[yota691]

Iraq announces important decision in the Kuwaiti archives

Editorial Date: 2018/11/6 20:20 • 371 times read

(Baghdad: Al-Furat News) The Foreign Ministry decided to resolve all outstanding problems between Iraq and Kuwait, including the handover of the Kuwaiti archives.
 

"The undersecretary of the ministry, Ambassador Hazem al-Youssafi, received the ambassador of Kuwait in Baghdad Salem Ghassab al-Zaman in the presence of Abdulrahman Hamid al-Husseini, head of the Department of International Organizations and Conferences, and Ahmed Nayef al-Dulaimi, head of the Arab department," the ministry said in a statement. 
He added that "after the exchange of words of welcome, the Undersecretary stressed the depth of brotherly relations between the two brotherly countries, noting that Iraq is keen to develop and upgrade in all areas of cooperation in various aspects, especially political and economic, and resolve all outstanding issues between the two countries.
"Following efforts to search and compile the archives and archives of Kuwait, and in compliance with the UN Security Council resolutions in this regard, the latest of which is Resolution No. 2107 of 2013 concerning Kuwaiti archives and archives, His Excellency Minister of Foreign Affairs Mohammad Ali Al Hakim delivered the special batch of Kuwaiti radio, Kuwait at the weekend and in the presence of the United Nations as an observer of this event. " 
For his part, Al-Zamanan expressed his thanks and satisfaction with the efforts made by the Iraqi side in handing over the archives and archives of Kuwait, which contribute to solving the outstanding problems between the two countries, stressing the "deep brotherly relationship between the two countries and cooperation in various fields to serve the interests of the two brotherly countries."

[tigergorzow]

Yota Thanks,  Excellent article...Progress being made in a very positive manner.

 

GO RV / RI

[Mary B]

Kuwait announces the remaining debts of its Saddam invasion

 

Thursday, November 8

 

announced that the State of Kuwait , on Thursday, the rest of the invasion of the former regime , the President of the debts of Saddam Hussein have, stressing that Iraq paid in three installments during the current year. "This year, Kuwait received three installments of compensation of $ 90 million each," Kuwait's 

Al-Watan newspaper quoted the chairman of the Public Authority for Compensation Assessment Khaled Al-Mudhaf as saying at a meeting of the United Nations Compensation Commission in Geneva .

"The three payments were made in April, July and October, in accordance with the payment mechanism set out in decision 267 of 2009," Mudhaf said. 

Al-Mudhaf said that "these payments will be in favor of Kuwait about 4.4 billion dollars and should be paid in the future." He added that "continuing the deposit in the Compensation Fund will bring everyone from the final completion of the Board of Directors and receive full compensation for Kuwait." 

Iraq has been subjected to Chapter VII of the Charter of the United Nations imposed after the invasion of the regime of former President Saddam Hussein in Kuwait in August of the same year, and allowed the item to use force against Iraq as a threat to international security, in addition to freezing large amounts of financial assets In international banks to pay compensation to those affected by the invasion, including the State of Kuwait.

https://www.alsumaria.tv/news/252097/%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA-%D8%AA%D8%B9%D9%84%D9%86-%D9%85%D8%A7-%D8%AA%D8%A8%D9%82%D9%89-%D9%85%D9%86-%D8%AF%D9%8A%D9%88%D9%86-%D8%BA%D8%B2%D9%88-%D8%B5%D8%AF%D8%A7%D9%85-%D9%84%D9%87%D8%A7/ar

[Mary B]

How much of the debts of the invasion of Kuwait?[/size]
 

• 
  
• November 8, 2018 6:53 p
   
• 117
   

 

KUWAIT CITY - Kuwait announced on Thursday that the debts owed by Saddam Hussein to Iraq had been paid in three installments this year. 
"This year, Kuwait received three payments of $ 90 million each," Al-Watan newspaper quoted Chairman of the Public Authority for Compensation Assessment Khaled Al-Mudhaf as saying at a meeting of the United Nations Compensation Commission in Geneva.

 

"The three payments were made in April, July and October, in accordance with the payment mechanism set out in decision 267 of 2009," Mudhaf said. 
Al-Mudhaf said that "these payments will be in favor of Kuwait about 4.4 billion dollars and should be paid in the future." He added that "continuing the deposit in the Compensation Fund will bring everyone from the final completion of the Board of Directors and receive full compensation for Kuwait." 
Iraq has been subjected to Chapter VII of the Charter of the United Nations imposed after theinvasion of the regime of former President Saddam Hussein in Kuwait in August of the same year, and allowed the item to use force against Iraq as a threat to international security, in addition to freezing large amounts of financial assets In international banks to pay compensation to those affected by the invasion, including the State of Kuwait

http://alrray.org/2018/11/%D9%83%D9%85-%D8%AA%D8%A8%D9%82%D9%89-%D9%85%D9%86-%D8%AF%D9%8A%D9%88%D9%86-%D8%BA%D8%B2%D9%88-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA-%D8%9F/

[Mary B]

In figures ... Know the size of Iraq's debt by the budget of 2019 !!

• November 8, 2018 8:51 p
• 34

 

 

Revealed a legal expert, on the volume of debt owed by Iraq.

"As a numerical table in the proposed budget bill 2019, it is clear to any follower that Iraq is drowning in its debts and the benefits of previous debts, which could reach the extent that it would lose more than 15% of its budget to repay these debts. Without the rise of oil prices, It would have been possible that these debts and their payments take up to 70% of Iraq's annual budget. " 
"If logic and fairness were the factor in Iraq, we would have reached a logical conviction to eradicate and eradicate all minds that have brought the country into this situation." 
Al-Asadi pointed to "a simplified part of the disaster (debt) of the interest of loans and the benefits of guarantees for repayment and repayment installments. The repayment of the interest of loans and debt installments and the interest of the guarantee on Iraq for the next year 12770 billion dollars, as follows: 
1. World Bank 151 billion dinars, or 125 million $ 
2. The International Monetary Fund 70 billion dinars, or 58 million dollars.
3 - GICA 45 billion dinars, or 37 million dollars. 
4 - Italian 1.9 billion dinars, or one million and 500 thousand dollars. 
5 - Islamic Development Bank 3 billion dinars, two million and a half million dollars. 
6. Bank of Japan 16 billion dinars, or 13 million dollars. 
7 - German bank 15 billion dinars, or 12.5 million dollars. 
8 - The American bank 290 billion dinars, or 240 million dollars. 
9- The British Bank 37 billion dinars, or 30 million dollars. 
10. The Swedish bank is 8 billion dinars, or 6.6 million dollars. 
11. The Chinese bank is 15 billion dinars, or 12.5 million dollars. 
12 - German company Siemens 16 billion dinars, or 13.3 million dollars. 
13- Guarantee exports 59.46 billion dinars, or 49.5 million dollars. 
14. Sovereign guarantees: 19.266 billion dinars, or 15 million dollars.
15. The French bank 5.5 billion dinars. 
16. International Fund for Agricultural Development (IFAD). 
17. The Saudi loan interest is 1.8 billion dinars. 
18 - The interest of the Kuwaiti loan 5 billion dinars. 
19- The interest of the Italian loan (ICA) 28 billion dinars. 
20 - Benefits of the Arab Fund for Economic Development, 129.465 billion dinars. 
21. The benefits of housing loans for employees in liberated areas 20 billion dinars. 
22. Benefits of external debt restructuring Paris Club 207.559 billion dinars. 
23. The benefits of debt restructuring outside the Paris Club are 225.600 billion dinars. 
24 - Benefits of the Arab Monetary Fund's receivables 838 million dinars. 
25 - The interest of bonds to extinguish the debts of the private sector abroad 191.484 billion dinars. 
26 - The interest of foreign debt bonds 117 billion dinars.
27 - The benefits of treasury transfers 65 billion dinars. 
28 - The benefits of old treasury transfers 70 billion dinars. 
29- The benefits of treasury transfers under the legal reserve are 38 billion dinars. 
30 - The benefits of treasury transfers according to the transfer of the Iraqi Bank for Trade 40 billion dinars. 
31 - The benefits of treasury transfers under the transfer of financing of oil companies 80 billion dinars. 32 - The benefits of treasury transfers discounted by the Central Bank 850 billion dinars. 33. The benefits of treasury transfers through the pension fund are 13 billion dinars. 
34. The interest of the loans of resolution 314 for the year 2014 1 {1.4} billion dinars. 
35 - The benefits of loans granted by the Iraqi Bank for Trade 48 billion dinars. 
36 - The benefits of national bonds 200 billion dinars. 
37- The benefits of treasury remittances by resolution 50 of 2014 {120} billion dinars.
38- The benefits of treasury transfers No. (74 and 70) for the year 2015 {140} billion dinars. 
39- Payment of the issuance of old treasury remittances 200 billion dinars. 
40 - Payment of local bond premiums of 2100 billion dinars. 
41 - Payment of installments of remittances {auctions} 1100 billion dinars. 
42 - compensation of the war in Kuwait 1553 billion dinars. 
43- Treasury transfers by the Iraqi Trade Bank 200 billion dinars. 
44- Remittances of Treasury Transfers Transfer of financing of foreign oil companies 610 billion dinars. 
45 - Premiums of treasury transfers deducted by the Central Bank of Iraq 1000 billion dinars. 
46 - Payments of treasury transfers granted by the Pension Fund 150 billion dinars. 
47- Payments of treasury remittances under the resolutions of {97 and 100} for the year 2013 {150} billion dinars.
48- Payments of remittances by virtue of the decision of {50} for the year 2014 {300} billion dinars.
49- Payments of remittances by virtue of resolutions {74 and 70} for the year 2015 {300} billion dinars. 
50- Loans installments under Decree 314 of 2014 {50} billion dinars. 
51 - Loans granted by the Iraqi Bank for Trade 150 billion dinars. 
52 - installments of loans to public companies for the salaries of employees of 1200 billion dinars.
53- Payments of treasury transfers under the legal reserve of 500 billion dinars. 
54- Installments of external debt restructuring Paris Club 697 billion dinars. 
55- Payment of restructuring fees outside Paris Club 200 billion dinars. 
56 - Settlement of external debt 118 billion dinars. 
57- The Arab Fund for Economic Development (AFDD) installments of JD 371 million. 
58- Technical settlement of small debts in the private sector 17.7 billion dinars.
59- Installments of the Arab Fund for the debt restructuring agreement 46 billion dinars. 
60 - World Bank loan installments 96 billion dinars. 
61- International Monetary Fund loan repayments 905 billion dinars. 
62-installments {JICA} loans 174.5 billion dinars. 
63 - Italian loan installments of one billion dinars. 
64- Islamic Development Bank loan installments KD 1 billion. 
65- JBIC loan installments in Japan are JD 2 billion. 
66 - German loan installments of one billion dinars. 
67 - US loan installments 372 billion dinars. 
68- British loan installments 56 billion dinars. 
69 - Swedish loan installments 12 billion dinars. 
70 - Chinese loan installments of two billion dinars. 
71 - installments of the German loan Siemens billion dinars. 
72 - French loan installments of 5.5 billion dinars.
73. The loan installments of the International Fund for Agricultural Development (IFAD) are one billion dinars. 
74 - Saudi loan installments 1.8 billion dinars. 
75 - Kuwaiti loan installments 5 billion dinars. 
76- Italian loan installments (ACI) 36 billion dinars. 
77 - Russian loan installments 236 billion dinars. 
78- Loan installments JBIC to two billion dinars. 
The total amount of these benefits and repayments to Iraq about 15,324 billion Iraqi dinars, which means 12770 billion US dollars.

http://alrray.org/2018/11/%D8%A8%D8%A7%D9%84%D8%A7%D8%B1%D9%82%D8%A7%D9%85-%D8%AA%D8%B9%D8%B1%D9%81-%D8%B9%D9%84%D9%89-%D8%AD%D8%AC%D9%85-%D8%AF%D9%8A%D9%88%D9%86-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D8%A8%D9%85%D9%88/

[yota691]

Kuwait announces the remaining debts of its Saddam invasion

 

Thursday, November 8

 

 

 

 

Alsumaria News / Baghdad  announced that the State of Kuwait , on Thursday, the rest of the invasion of the former regime , the President of the debts of Saddam Hussein have, stressing that Iraq paid in three installments during the current year. "This year, Kuwait received three installments of compensation of $ 90 million each," Kuwait's  Al-Watan newspaper quoted the chairman of the Public Authority for Compensation Assessment Khaled Al-Mudhaf as saying at a meeting of the United Nations Compensation Commission in Geneva . "The three payments were made in April, July and October, in accordance with the payment mechanism set out in decision 267 of 2009," Mudhaf said.  Al-Mudhaf said that "these payments will be in favor of Kuwait about 4.4 billion dollars and should be paid in the future." He added that "continuing the deposit in the Compensation Fund will bring everyone from the final completion of the Board of Directors and receive full compensation for Kuwait."  Iraq has been subjected to Chapter VII of the Charter of the United Nations imposed after the invasion of the regime of former President Saddam Hussein in Kuwait in August of the same year, and allowed the item to use force against Iraq as a threat to international security, in addition to freezing large amounts of financial assets In international banks to pay compensation to those affected by the invasion, including the State of Kuwait.

[yota691]

KUWAIT: Talks on importing Iraqi gas in final stages

 

Thursday, November 8

 

 

 

 

Alsumaria News / Baghdad  Kuwait announced on Thursday that talks with Iraq on the import of Iraqi gas have reached the final stages.  "Talks with brothers in Iraq on the import of gas are in the final stages," the Kuwaiti daily Al-Rai reported, citing Oil, Electricity and Water Minister Bakhit Al-Rashidi.  "The readiness of the Ministry of Electricity and Water in all its sectors, especially the maintenance sector, which is spread throughout the country to maintain the continuity of electricity under any circumstances."     The Kuwaiti oil minister announced on December 10, 2017, the agreement with Iraq to import 50 million cubic feet per day of natural gas as a first stage, among former Iraqi Oil Minister Jabbar al-Allaibi that the date of signing the contract is linked to some logistical matters and prices.  The Iraqi government announced in August 2017, negotiating with officials in Kuwait to sell gas instead of paying money as part of the compensation imposed on Baghdad, the invasion of Kuwait in 1990.