Compensation policy for Iraq’s invasion of Kuwait is $ 90 million

The United Nations Compensation Commission announced Tuesday that it had transferred $ 90 million to the Government of Kuwait within the framework of the only remaining claim for Category E compensation for losses and damage suffered by individuals, companies, governments and international organizations as a direct result of Iraq’s invasion and occupation of Kuwait.

The Committee said in a statement that the transfer of the amount of the Committee paid the total compensation for all categories up to 48 billion dollars, leaving only 4.4 billion dollars left for this claim the only Kuwaiti remaining.

The compensable claims were paid from 5 per cent of Iraq’s oil sales, which had been reduced to 0.5 per cent on the basis of a decision by the Governing Council of the Commission to take account of Iraq’s economic conditions in 2017.

The Committee reported that this rate would increase in subsequent years until compensation was fully paid.

The Compensation Commission was established in 1991 by a resolution of the Security Council to deal with claims and pay compensation for losses and damages suffered by individuals, corporations, governments and international organizations as a direct result of Iraq’s invasion of Kuwait.

The Government of Kuwait had submitted a claim to the Commission on behalf of KPC and the Committee had approved a right to compensation of $ 14.7 billion for oil production losses and sales as a result of damage to Kuwait’s oil rights assets, the largest outstanding claim approved by the UN Commission.

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