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UN Reparations Panel for Invasion of Kuwait Pays Out $680m
UN Reparations Panel for Invasion of Kuwait Pays
Out $680 Million
New York, Jan 27 2011 10:10AM
The United Nations commission that settles damage claims in connection to Iraq's 1990 invasion of Kuwait today made $680 million available to nine successful claimants.
This latest round of payments brings the total amount of compensation disbursed by the Geneva-based UN Compensation Commission (UNCC) to individuals, corporations, governments and international organizations to nearly $31.4 billion, leaving an outstanding balance of some $21 billion that remains owing to Kuwait, according to a press release.
The vast majority of funds for compensation payments have come from the sale of Iraqi petroleum under the so-called Oil-for-Food programme, which came to an end in 2003, and later within the scope of arrangements made under Security Council resolutions.
Established in 1991 as a subsidiary
organ of the Security Council, UNCC has received nearly
three million claims in six different
categories: four
categories are for individuals' claims, one for corporations
and one for governments and international organizations,
which also includes claims for environmental damage.
ENDS
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