Kuwait gets $1.06 bn in Iraqi reparation: UN

28th July 2011, Comments 0 comments

The United Nations released $1.06 billion in Iraqi compensation to Kuwait on Thursday in the latest payment of a war reparation scheme that began in 1994.

The payment brings the total sum of compensation paid to Kuwait to $33.3 billion. A further $19 billion is due.

Most of the latest round went to state and private companies, and governments and international organisations, the UN Compensation Commission said in a statement.

Following the 1991 invasion of Kuwait by Saddam Hussein's regime, Iraq is required to put five percent of its oil and gas revenues into the UN reparations fund.

© 2011 AFP

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