UNITED NATIONS (Bernama) – The United Nations Compensation Commission (UNCC), which settles damage claims of those who suffered losses in the 1990 Iraq’s invasion of Kuwait, on Thursday provided US$1.06 billion to the Kuwaiti government.
This brings to US$47.8 billion the total compensation received by Kuwait so far with US$4.6 billion due to be paid, Xinhua news agency reported.
Successful claims are paid with money drawn from the UN Compensation Fund, which is financed by a percentage of proceeds generated by export sales of Iraqi petroleum and related products.
The Commission has received nearly three million claims including from some 100 governments, their nationals and corporations for losses and damages incurred as a result of Iraq’s invasion and occupation of Kuwait from Aug 2, 1990 to March 2, 1991.
The Kuwaiti government’s claim constitutes the largest award by the commission.