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The Compensation Commission pays Kuwait $ 240 million

rocky
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payment - The Compensation Commission pays Kuwait $ 240 million Empty The Compensation Commission pays Kuwait $ 240 million

Post by rocky on Wed 24 Apr 2019, 5:37 am


The Compensation Commission pays Kuwait $ 240 million

12:00 - 24/04/2019



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Information / translation ... 
announced that the UN committee overseeing the compensation by the States and organizations affected by the Iraqi occupation of Kuwait in 1990 , it paid $ 240 million to the Kuwait Oil Corporation for the damage done to them. 
"With the final payment, the total amount paid to compensate Kuwait has reached about $ 48.3 billion since 2005, and Iraq should allocate 1.5 percent of the oil export sales to the compensation fund," the Associated Press news agency quoted the committee as saying. 
"The committee has approved 1.5 million claims from more than 100 governments and international organizations, all of which have been paid in full except for one claim," he said.
"Iraq still has to pay about $ 4.1 billion of KPC's claims of $ 14.7 billion for oil production losses and sales resulting from damage to oil fields in the country as a result of the invasion," the committee said.Ending / 25 z


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payment - The Compensation Commission pays Kuwait $ 240 million Empty A new Iraqi compensation payment to Kuwait

Post by rocky on Wed 24 Apr 2019, 5:55 am

A new Iraqi compensation payment to Kuwait


Wednesday, April 24,


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The compensation committee for Iraq's invasion of Kuwait announced Wednesday that it had paid $ 240 million to the Petroleum Corporation. 

According to the agency "Associated Press", the Committee pointed out that the remaining claim, is compensation for the Petroleum Corporation, where about 4.1 billion dollars of its total claims of 14.7 billion. Iraq

should now allocate 1.5 percent of its oil sales to the Compensation Fund, instead of 0.5 percent, which has been in operation since 2018, the committee said.


The UN Commission on Compensation for the Damages of the Iraqi Invasion of Kuwait has obliged Baghdad to pay $ 4.6 billion in cash, but these payments have been suspended since October 2014 due to security challenges and budgetary problems faced by Iraq, but the payment was resumed at 0.5 percent of Iraq's revenues Starting from 2018, and will increase annually until the end of 2021, by 300 million dollars every three months.



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payment - The Compensation Commission pays Kuwait $ 240 million Empty Re: The Compensation Commission pays Kuwait $ 240 million

Post by weslin3 on Wed 24 Apr 2019, 10:53 am

by 300 million dollars every three months.


NO wonder they keep up the auctions.

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