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Saturday , March 28 2020

Iraq paid $300 million compensation to Kuwait

KUWAIT CITY, Feb 4: Iraq paid $300 million compensation to Kuwait for the losses and damages suffered by individuals, companies, governments and international organizations after the invasion, reports Alrai daily.

The United Nations committee in charge of compensation for losses caused by the Iraqi invasion of Kuwait has instructed Baghdad to pay $4.6 billion in cash, but the payment was suspended from October 2014 until the end of 2017 because of security challenges and budgetary problems of Iraq. The payment resumed – 0.5 percent from Iraq’s oil revenues – at the beginning of 2018, increasing by $300 million every three months until the end of 2021.

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