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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Kuwait reveals an Iraqi letter proposing alternatives to pay compensation

    Rocky
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    Kuwait reveals an Iraqi letter proposing alternatives to pay compensation Empty Kuwait reveals an Iraqi letter proposing alternatives to pay compensation

    Post by Rocky Thu 05 Oct 2017, 1:40 am

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    Kuwait reveals an Iraqi letter proposing alternatives to pay compensation


     Baghdad / Zahraa al-Jassim 

    Iraq and Kuwait to reach an agreement on the payment of the remaining compensation for the losses of the invasion of Kuwait, as Kuwait reveals an Iraqi letter containing four alternatives to the future options to pay the remaining amount of compensation, including the purchase of Iraqi gas at the agreed price between the parties and negotiate a reduction in the percentage of Iraq's imports Of oil and its derivatives, stresses an expert on the need to manage the file of compensation in isolation from the trade and investment relations between the two countries, and in the opinion that Kuwait to waive compensation, similar to what other countries have done, it calls the Parliament to raise the debt file of Kuwait and Saudi Arabia To Iraq and the demand of the two countries to adopt the criteria of the Paris Club to reduce 80% of those debts and deal with the rest of them through scheduling and without interest.
    Iraq's external debt owed to Saudi Arabia is estimated at $ 26 billion, while its debts to Kuwait are estimated at $ 15 billion, which is the value of oil produced by Kuwait and Saudi Arabia for Iraq during the Iran-Iraq war. The compensation amounts to the invasion of Kuwait were estimated at $ 107 billion, Most of which are estimated at $ 4.6 billion.
    Chairman of the Board of Directors of the General Authority for the Assessment of Compensation for the Loss of the Iraqi Invasion of Kuwait Khalid Al-Mudhaf, who revealed in a speech before the 83rd session of the United Nations Compensation Commission held in Geneva, an Iraqi letter addressed to Kuwait in August last included four alternatives for future options to pay the remaining amount of compensation, "The proposals of alternatives provided by Baghdad, including the purchase of Iraqi gas at the agreed price between the parties and negotiate the reduction of the percentage of Iraq's imports of oil and its derivatives and continued, while" The third alternative to reduce the remaining amount of compensation according to the rules of the Are Paris, and the fourth alternative is to transfer the remaining amount of compensation to bilateral debts between the two countries.
    He pointed out that his country is determined to reach an agreement with the Iraqi government on the payment of the remaining compensation amounts of up to 6.4 billion dollars, and that "the decision of the Board of Directors of the General Authority for Appraisal 274 of 2016 extended the postponement of payment of the compensation of Iraq until the year 2018, drew the United Nations encouragement to Kuwait and Iraq to cooperate in order to discuss the future options for the payment of the remaining amounts, including the holding of bilateral meetings and the formation of specialized technical committees to discuss the proposals submitted by the parties.
    Economist Ahmed Breihi said in an interview for "(extent), that Iraq paid the largest part of the compensation, which was $ 52 billion and the rest of which are small amounts, so Kuwait can give it as an initiative to open a new page with Iraq, continuing: Because Iraq has paid large sums to Kuwait and is also affected by the old policies, so Kuwait can give up, but the United Arab Emirates, for example, was a creditor of Iraq with "$ 7 billion, and the United States also gave up its debts to Iraq as well as other countries, Therefore, these are war reparations and if we look at them as The rest of the debts that Kuwait had to offer could be waived by Kuwait, which we propose.
    In the case of deducting the amounts of compensation to Kuwait from the purchase of gas, we do not support that, because Iraq is the one who sells gas to Kuwait, and should remain the issue of compensation administered in isolation from commercial and investment relations between Iraq and Kuwait, as confirms Berihi: calling at the same time Kuwait to address comprehensively For the indebtedness and the amount of compensation because it is still demanding Iraq's debts lent to the former regime during the Iran-Iraq war, as well as the amounts of compensation imposed by the UN resolutions on Iraq after the crisis in Kuwait, so it is better to address the file of debt on Iraq and the compensation file how Helping to open a new page with Iraq.
    He continued: With regard to the issue of Kuwait's debt to Iraq, it must accept the criteria of the Paris Club and deduct the debt as opposed to other countries, and must waive the compensation, and if not waived, they must address these compensation in isolation from commercial and investment relations between them and Iraq, The first in the Iraqi Nub Council to re-raise the file of the debts of Kuwait and Saudi Arabia on Iraq and calls on these two countries to adopt the criteria of the Paris Club to reduce 80% of this debt and the treatment of the rest by scheduling and without interest, the file of compensation because Iraq paid large amounts of those compensation and At minor amounts was the first by surrendering them.
    Iraq deposits 5 per cent of its proceeds from sales of oil, petroleum products and natural gas in the Compensation Fund pursuant to Security Council resolution 687 (1991) by establishing a fund to pay compensation to Governments, companies or individuals who suffered direct losses as a result of the 1990 Iraqi invasion of Kuwait and the establishment of a fund management committee.



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