Admin l Thursday, February 10, 2022
GENEVA – The United Nations (UN) Compensation Commission (UNCC) on Wednesday announced that it has processed a final claim, amounting to $52.4 billion as reparation to Kuwait for the 1990 invasion of the city by Iraq.
The final payment was made on 13 January, showing that all compensation has now been paid in full, the UN Office at Geneva said in a press release.
The UNCC’s Governing Council convened a special session to mark the conclusion of the reparations process, ending the process for the individuals, companies and governments, able to prove they had suffered damages from Iraq’s unlawful invasion and occupation of Kuwait, under former dictator Saddam Hussein.
Delegations from Iraq and Kuwait addressed the session during the opening plenary meeting, which was held under the Presidency of Ireland.
The commission was established in Geneva almost 3 1 years ago as a subsidiary organ of the Security Council under its resolution 687 (1991) to process claims and pay compensation for losses and damages suffered as a direct result of the Gulf War from 1990 to 1991.
The $52.4 billion was paid out from the UN Compensation Fund, which received a percentage of the proceeds generated over the years by the export sales of Iraqi petroleum and petroleum products.
