Kuwait says still owed $11bn from Iraq war

Gulf state has received almost $2.5bn this year relating to Saddam Hussein’s 1990 invasion

Kuwait says it has received $2.43bn in reparation payments from Iraq since the start of this year for its 1990 annexation, but is owed a further $11.2bn.

Compensation Claims Commission chief Khaled Al-Mudhaf told the official KUNA news agency that the Gulf state was paid $1.3bn in January and $1.13bn on April 25. The payments relate to Saddam Hussein’s invasion of the oil-rich nation, which culminated in the first Persian Gulf War.

During a speech at the Geneva-based UN Compensation Commission, Mudhaf demanded Iraq continue to deposit 5 percent of its oil revenues into the compensation fund as a guarantee for future payments.

After Iraqi troops were thrown out of Kuwait in 1991 following a seven-month occupation, the UN compensation body deemed that the invaded country was owed $41bn. Iraq has so far handed over about $30bn of this sum.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

Posted by: jonjon

i wonder if the UN compensation body has a fund for palestine?

All comments are subject to approval before appearing

Further reading

Features & Analysis
Glad to see Obama go, Gulf Arabs expect Trump to counter Iran

Glad to see Obama go, Gulf Arabs expect Trump to counter Iran

Trump seen as a strong president who will shore up Washington...

Is Africa's investment dream still on track?

Is Africa's investment dream still on track?

It was the new bright spot for global investors, but widespread...

Markets cheer Saudi deficit-cutting but finances still hostage to oil

Markets cheer Saudi deficit-cutting but finances still hostage to oil

Cost of insuring against a Saudi sovereign debt default fell...

Most Discussed
sponsoredTracking