Iraq announces the approval of the United Nations to reduce the compensation of Kuwait
SUNDAY, 07 OCTOBER 1 / OKRUDOLF 2012 10:23
Twilight News / Deputy Prime Minister, Sunday, Iraq's access to the "green light" from the United Nations; to reduce the amounts of compensation ratios invasion of Kuwait from 5% to 2 or 3% of the proceeds of Iraqi oil exports.
Said Rose Nuri Shaways, in a statement reported for "Twilight News", "Iraq got the green light from the United Nations to reduce the rates of the amounts of compensation invasion of Kuwait of 5 percent to 2 or 3 percent of the revenues of Iraqi oil exports," noting that "this important but will prolong the repayment period is about to end soon. "
The reduction of the UN Security Council more than once percentage that were deducted from the proceeds of the sale of oil and gas in Iraq to be directed to a compensation fund of 30% as set out originally to 5% currently.
Shaways said "Iraq's money legally covered properly which makes them immune from prosecution creditors, especially after the agreements made in this regard with the Development Fund for Iraq, which save, and the decision of UN all the oil sales revenues, They renewed annually protection is that it will end next year. "
The secretary-general of the United Nations, "Ban Ki-moon" last July satisfaction of Iraq's cooperation with the United Nations Compensation and continued Baghdad perform five per cent of oil revenues to compensate victims of the Iraqi invasion of Kuwait in 1990 likely complete compensation early 2015.
The Iraqi government, announced on Saturday, on the other side of compensation; they will not pay the agreed compensation to Kuwait Airways Corporation before falling judicial recent call against Iraqi Airways.
The secretary general of the Iraqi Council of Ministers on the Keywords, in a press statement seen by "Twilight News" that "Kuwait to drop its claims in international courts against Iraqi Airways."
The estimated total amount of compensation paid by Iraq so far about 4.36 billion dollars and left a total of 16 billion dollars to be paid .. Estimates indicate that this amount will be paid in full by early 2015.
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