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Fouad Hussein announces Iraq's exit from Chapter VII


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21 minutes ago, dinarbeleiver said:

Come on Iraq it’s time to give your citizens purchasing power !

Not only that but, also a share of the oil sales and I would say make it retroactive.

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 Iraq announces the final closure of the Kuwaiti compensation page
 
30022.jpg
 
 
 
 

Economy News _ Baghdad

The Central Bank of Iraq announced, on Wednesday, the completion of the last remaining installment of Kuwait's compensation, amounting to 44 million dollars.

The bank said in a statement received by "Al-Iqtisad News", that "the payment of the last remaining installment of the State of Kuwait's compensation amounting to $44 million has been completed."

He continued by saying, "With this, Iraq will have completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council under Resolution (687) for the year 1991, with a total of (52.4) billion US dollars for the State of Kuwait."

He added, "It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on reintegrating the Iraqi banking system into the global banking system and benefiting from the financial abundance that will be achieved."

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.

Iraq had stopped making payments between 2015 and 2017 during the war on the terrorist "ISIS", which controlled a third of the country, but it resumed in 2018.

Iraq was paying the amount of compensation to a UN fund established under the name of the United Nations Compensation Fund, through a percentage of oil sales.

 

Views 534   Date Added 12/22/2021

 

https://economy-news.net/content.php?id=27003

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After 31 years.. Iraq closes the most prominent outstanding issues with Kuwait

 Time: 12/21/2021 20:28:19  Reading: 2,756 times

After 31 years.. Iraq closes the most prominent outstanding issues with Kuwait
  
{Political: Al Furat News} Iraq has completed paying the compensation amounts allocated to the State of Kuwait for the losses of the Saddam's invasion of the neighboring country in 1990, at a value of 44 million US dollars.

The Central Bank of Iraq stated: "The payment of the last remaining payment of $44 million in compensation from the State of Kuwait has been completed, and thus Iraq has completed the payment of the full compensation amounts approved by the United Nations Compensation Committee."

The bank's statement today, Tuesday, said: "It is hoped that ending the payment of compensation will contribute to the re-integration of the Iraqi banking system into the global banking system."

Thus, Iraq paid 52.2 billion dollars to compensate for the destruction caused by its invasion of Kuwait to the Kuwaiti infrastructure and the losses it caused to Kuwaiti citizens and foreigners as a result of the Saddamist invasion.

 

https://alforatnews.iq/news/بعد-31-عاماً-العراق-يغلق-أبرز-الملفات-العالقة-مع-الكويت

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 2021-12-23 01:14
 

Shafaq News/ Kuwait announced that Iraq delivered the last batch of compensation amounting to 44 million dollars before it was due.

The Kuwaiti Al-Rai newspaper, quoting officials, reported that "Iraq paid the last payment of $44 million to complete the remaining $629 million for Kuwait, revealing that the amount returned from the deduction from oil sales amounted to about $585 million, and the remaining 44 million, so the Iraqi government decided to pay The remaining amount instead of waiting for the next quarterly withholding payment to be due, in the spring of 2022.”

She added that "the Iraqi government wants to achieve two goals, the first is a message of friendly signal to Kuwait of its commitment to implement its commitments, and the second is to re-integrate the Iraqi banking system with the global banking system."

And she indicated that "the United Nations Compensation Committee will hand over to Kuwait the last batch of compensation due to it from Iraq at the end of this month or the beginning of next January at the latest, indicating that the committee will meet next February to issue its own report that Iraq has fulfilled all its obligations in terms of paying the prescribed compensation claims. It is complete for Kuwait.

In accordance with Security Council resolutions, the percentage deducted from the proceeds of export sales of oil and its products was 5% in 2003, then it decreased to 0.5% in 2018, and then rose to 1.5% in 2019, to stabilize since 2020 at 3%.

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.

On November 21, 2021, the Central Bank announced 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 would contribute to removing Iraq from Chapter VII.

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1 hour ago, Wiljor said:

Good morning Yota;

This statement says it all... :twothumbs:

 

to re-integrate the Iraqi banking system with the global banking system."

I like the part where it says they're paying early and not waiting for the next quarterly payment. Makes me think they needed to pay early to accomplish another goal earlier than end of 1st qtr 2022...

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On 12/22/2021 at 6:50 AM, yota691 said:

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.

Sooo Yota, y'all sayin thars a chance that it could or might ... be .... s   o  o   _     ?  Would you dare to pontificate the likelihood that the rate could change to $ .10 , $ .60 , or a full $1.00 by March 2022 ? Nothing written in stone mind you, just Your best guess; with a capital G . (Yeah, I know a wussy rookie question.)

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35 minutes ago, new york kevin said:

Sooo Yota, y'all sayin thars a chance that it could or might ... be .... s   o  o   _     ?  Would you dare to pontificate the likelihood that the rate could change to $ .10 , $ .60 , or a full $1.00 by March 2022 ? Nothing written in stone mind you, just Your best guess; with a capital G . (Yeah, I know a wussy rookie question.)

You're not a rookie 

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http://non14.net/public/images/large/8-1640251654.jpg

Kuwait announced that Iraq handed over the last batch of compensation amounting to 44 million dollars before it was due.

The Kuwaiti Al-Rai newspaper, quoting officials, stated that "Iraq paid the last payment of $44 million to complete the remaining $629 million for Kuwait," revealing that "the amount returned from the deduction from oil sales, amounted to about $585 million, and the remaining 44 million, so the Iraqi government decided Pay the remaining amount rather than wait until the next quarterly withholding payment is due, in the spring of 2022.”

She added that "the Iraqi government wants to achieve two goals, the first is a message of friendly signal to Kuwait of its commitment to implement its commitments, and the second is to re-integrate the Iraqi banking system with the global banking system."

She indicated that "the United Nations Compensation Committee will hand over to Kuwait the last batch of compensation owed to it from Iraq at the end of this month or the beginning of next January at the latest," noting that "the committee will meet next February to issue its own report that Iraq has fulfilled all its obligations in terms of payment." The compensation claims imposed on him are in full to Kuwait.

In accordance with Security Council resolutions, the percentage deducted from the proceeds of export sales of oil and its products was 5% in 2003, then it decreased to 0.5% in 2018, and then rose to 1.5% in 2019, to stabilize since 2020 at 3%.

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.

On November 21, 2021, the Central Bank announced 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 would contribute to removing Iraq from Chapter VII.

http://non14.net/public/142894

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Kuwait: Iraq paid the last batch of compensation 3 months ahead of schedule

 
1636352391972.jpg?resize=696%2C392&ssl=1

Yes Iraq: Baghdad

 

Kuwait announced that Iraq handed over the last batch of compensation amounting to 44 million dollars before its due date in the spring of next year.

The Kuwaiti Al-Rai newspaper, quoting officials, reported that “Iraq paid the last payment of $44 million to complete the remaining $629 million for Kuwait, revealing that the amount returned from the deduction from oil sales amounted to about $585 million, and the remaining 44 million, so the Iraqi government decided to pay The remaining amount instead of waiting for the next quarterly withholding payment to be due, in the spring of 2022.”

She added that "the Iraqi government wants to achieve two goals, the first is a message of friendly signal to Kuwait of its commitment to implement its commitments, and the second is to re-integrate the Iraqi banking system with the global banking system."

She indicated that "the United Nations Compensation Committee will hand over to Kuwait the last batch of compensation owed to it from Iraq at the end of this month or the beginning of next January at the latest, indicating that the committee will meet next February to issue its own report that Iraq has fulfilled all its obligations in terms of paying the prescribed compensation claims. It is complete for Kuwait.

In accordance with Security Council resolutions, the percentage deducted from the proceeds of export sales of oil and its products was 5% in 2003, then it decreased to 0.5% in 2018, and then rose to 1.5% in 2019, to stabilize since 2020 at 3%.

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.

On November 21, 2021, the Central Bank announced 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 would contribute to removing Iraq from Chapter VII.

 

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Just now, Mary B said:

Kuwait: Iraq paid the last batch of compensation 3 months ahead of schedule

 
1636352391972.jpg?resize=696%2C392&ssl=1

Yes Iraq: Baghdad

 

Kuwait announced that Iraq handed over the last batch of compensation amounting to 44 million dollars before its due date in the spring of next year.

The Kuwaiti Al-Rai newspaper, quoting officials, reported that “Iraq paid the last payment of $44 million to complete the remaining $629 million for Kuwait, revealing that the amount returned from the deduction from oil sales amounted to about $585 million, and the remaining 44 million, so the Iraqi government decided to pay The remaining amount instead of waiting for the next quarterly withholding payment to be due, in the spring of 2022.”

She added that "the Iraqi government wants to achieve two goals, the first is a message of friendly signal to Kuwait of its commitment to implement its commitments, and the second is to re-integrate the Iraqi banking system with the global banking system."

She indicated that "the United Nations Compensation Committee will hand over to Kuwait the last batch of compensation owed to it from Iraq at the end of this month or the beginning of next January at the latest, indicating that the committee will meet next February to issue its own report that Iraq has fulfilled all its obligations in terms of paying the prescribed compensation claims. It is complete for Kuwait.

In accordance with Security Council resolutions, the percentage deducted from the proceeds of export sales of oil and its products was 5% in 2003, then it decreased to 0.5% in 2018, and then rose to 1.5% in 2019, to stabilize since 2020 at 3%.

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.

On November 21, 2021, the Central Bank announced 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 would contribute to removing Iraq from Chapter VII.

 

link https://yesiraq.com/الكويت-العراق-سدد-الدفعة-الاخيرة-من-ال/

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(edited)

Legal eLegal expert: The expiry of Kuwait’s compensation has nothing to do with Iraq’s exit from Chapter VIIxpert: 

 

 

1640119199922.jpg

aq’s exit from Chapter I 2021-12-23 11:26

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

 

Shafaq 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.

https://shafaq.com/ar/سیاسة/خبير-قانوني-لا-علاقة-بانتها-سداد-تعويضات-الكويت-بخروج-العراق-من-البند-السابع

Edited by Mary B
title is not showing up Legal expert: The expiry of Kuwait’s compensation has nothing to do with Iraq’s exit from Chapter VII
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"the committee will meet next February to issue its own report that Iraq has fulfilled all its obligations in terms of payment." 

 

So nice; the UN committee won't meet until February.

 

Wait, wait, wait...

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3 hours ago, horsesoldier said:

More foot dragging & sand bagging...no sense of urgency-either that or this is yet another attempt at misdirection. 

I don't know if I should give you an upvote, a thanks, or a sad face, orna laughing face on this one. Cuz one way or another they all fit the truth of what you said. 3 snaps up in a Z formation to it truly going up the way we want it .

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5 hours ago, Fimum said:

"the committee will meet next February to issue its own report that Iraq has fulfilled all its obligations in terms of payment." 

 

So nice; the UN committee won't meet until February.

 

Wait, wait, wait...

February🤔

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