UN: Kuwait will receive a billion dollars in Iraq this month .
Wednesday, 04 December / 2 January 2012 15:10

Twilight News / UN Secretary-General of the United Nations, Wednesday, that the Compensation Commission for the invasion of Saddam's regime of Kuwait, and the Comptroller stressed the need to develop the Iraqi government, the mechanism accounting appropriate to ensure the enrollment of 5%, and the transfer of similar value to the Compensation Fund, while expressing appreciation to the Government Iraq for its continued cooperation with the Compensation Committee.

And Ban Ki-moon, in a report to the Security Council, expressed his satisfaction for the continuation of Iraq transfer 5% of its oil revenues to the United Nations Fund for compensation, according to the UN Security Council resolution, noting at the same time the need for an assessment of the following account of the United Nations Fund for Iraq's development .

The proportion of 5%, deducted from the proceeds of Iraq's oil, of compensation for Gulf War II, established by the United Nations Commission for the compensation established by the Security Council in 1991 pursuant to a parts of the resolution number 687, which imposed the sanctions on Iraq following its invasion of Kuwait on 2 August 1990 , has repeatedly said that Iraq tried to reduce that percentage, but it did not work.

Moon said that the Board of Governors of the Compensation Committee of the Geneva-based "is supervised by an active developments in the wake of the end of the mandate of the Advisory Committee and international regulatory, Iraq, on June 30 of last year, and Iraq's transfer of money from the proceeds and use of the Committee of Financial Experts of Iraq."

The Committee appointed company (Ernst & Young) for the U.S. calendar for the year 2011 to the United Nations Fund for the Development of Iraq, and his account.

He Ban Ki-moon expressed his appreciation to the Government of Iraq "for its commitment to" the mechanism of converting 5% of its oil revenues and the "continuity" in cooperation with the Compensation Commission, adding, "While the evidence shows a positive, referring to the Iraqi government to its commitments, but only after a calendar for the following account of the United Nations Fund for the Development of Iraq can confirm this. "

He added that the Compensation Commission and the Comptroller met in July with the Chairman of the Iraqi Committee of Financial Experts, who "renewed emphasis on the transfer arrangements that percentage of the proceeds of sales of Iraqi oil and gas will not change."
He said that the Compensation Commission, confirmed the position of the Iraqi government in the months of August and October two awaiting confirmation from the Commission for Iraqi mechanism.

He continued, "The Iraqi Committee assumed responsibility for overseeing the sales of Iraqi oil, instead of the Advisory Committee and the international regulatory in the month of June."

It is said that Kuwait received from the Compensation Commission batches over a billion dollars first on July 28 and the second in October 27 the last two.

Predicted Ban Ki-moon, to receive the next installment of Kuwait the same amount in 26 of the month of January.