Iraq paid the last batch of $52.4 billion in Gulf War reparations
The United Nations Compensation Committee said today, Wednesday, that Iraq has completed the payment of 52.4 billion dollars to compensate individuals, companies and governments who have proven that they suffered damages due to its invasion and occupation of Kuwait in 1990.
Reuters reported that the Compensation Committee, which was formed by the Security Council after the seven-month Iraqi occupation and the defeat of former President Saddam Hussein's forces, received part of the proceeds from oil sales, while the percentage varied over the thirty years and was recently 3%.
In total, the Compensation Committee received about 2.7 million compensation requests, at a value of $352.5 billion, but the committee approved 1.5 million requests that met the required conditions and their owners received $52.4 million, as the value of the largest claim approved by the Committee for compensation amounted to $14.7 billion and was in favor of the Kuwait Petroleum Corporation. For the damage it sustained after Iraqi forces set fire to oil wells.
Payments were suspended between October 2014 and April 2018, due to the government's security and budget problems during its fight against the terrorist organization ISIS, at a time when the Geneva-based Compensation Committee said, in a statement after a closed meeting of its board of directors: “With the final payment For compensation on January 13, 2022, all compensation approved by the Commission has now been paid in full.
The committee added that "the government of Iraq has fulfilled its international obligations to compensate all applicants whom the committee agreed to compensate for the losses and damages they sustained as a direct result of Iraq's illegal invasion of Kuwait."
Bathsheba Crocker, the US ambassador to the United Nations in Geneva, said on her Twitter page yesterday: "We commend Iraq for completing the payments for all applications submitted by the United Nations Compensation Commission... It is a historic achievement."
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