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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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Established in 2006 as a Community of Reality

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Proven
Rocky
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    Iraq to resume compensation for Gulf war next year

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    • Post n°1

    Iraq to resume compensation for Gulf war next year Empty Iraq to resume compensation for Gulf war next year

    Post by Rocky Tue 21 Nov 2017, 3:33 pm

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    Iraq to resume compensation for Gulf war next year






    Baghdad - Journal News
    The United Nations said on Tuesday it had accepted a proposal from Iraq to allocate 0.5 percent of its oil revenues next year to pay $ 4.6 billion in compensation to Kuwait for the destruction of its oil facilities during the Gulf War in 1990 and 1991.
    Payments made since October 2014 due to security challenges and budgetary problems faced by Iraq will increase annually until the end of 2021, the UN Compensation Commission said in a statement, adding that Kuwait had accepted the proposal.
    "Based on oil prices and export expectations, this will result in the payment of the remaining compensation," the committee said, referring to KPC's claim, the largest amount approved by the Geneva-based Compensation Commission.

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    • Post n°2

    Iraq to resume compensation for Gulf war next year Empty Iraq 's economy pays Kuwait 0.5 percent of its oil revenues

    Post by Rocky Tue 21 Nov 2017, 3:42 pm

    [size=32]
    Iraq 's economy pays Kuwait 0.5 percent of its oil revenues[/size]
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     3 hours ago



    The United Nations said it had accepted a proposal from Iraq to pay 0.5 percent of its oil revenues in 2018 to Kuwait to compensate $ 4.6 billion for the destruction of its oil facilities in the Gulf War. 
    The United Nations Compensation Commission said in a statement issued on Tuesday that the rate of payments from the Iraqi Fund for compensation to Kuwait will increase annually until the year 2021. 
    "Based on forecasts of oil prices and the volume of exports (from Iraq), this will pay full compensation due "In reference to what KPC is demanding, the largest amount approved by the Geneva-based Compensation Commission. 
    Payments from the fund were suspended in October 2014 due to security challenges and budgetary difficulties faced by Iraq.
    It should be noted that this development comes in conjunction with the visit of Iraqi President Fuad Masum to Kuwait, where he met with the Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.




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    • Post n°3

    Iraq to resume compensation for Gulf war next year Empty To allocate 0.5% of Iraq's oil revenues to compensate Kuwait for the losses of the "Gulf War"

    Post by Rocky Tue 21 Nov 2017, 3:58 pm

    To allocate 0.5% of Iraq's oil revenues to compensate Kuwait for the losses of the "Gulf War"
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    Compensation is estimated at $ 4.6 billion 21 November 2017 09:38 PM
    The United Nations accepted an Iraqi proposal to allocate 0.5% of its oil revenues next year to pay $ 4.6 billion in compensation to Kuwait for the destruction of its oil facilities during the Gulf War between 1990 and 1991 .
     The payments were suspended since October 2014 due to the security challenges and problems related to the Iraqi budget, the UN committee said Tuesday. The payments should increase annually until the end of 2021.
    The United Nations Committee noted in its statement that Kuwait also accepted the Iraqi proposal.  
    The Committee said that, given oil prices and expectations for Iraq's oil exports, the remaining compensation is expected to be met.
    The Iraqi government, [You must be registered and logged in to see this link.] , negotiated with officials in Kuwait to sell the accompanying crude gas instead of paying money as part of the financial compensation imposed on Iraq .
    The part of the gas will be given in exchange for part of the financial compensation owed to the State of Kuwait instead of paying money from the treasury of the country .
    Iraq pays a total of US $ 177.6 billion in financial compensation for its 1990 invasion of Kuwait. The United Nations approved $ 37.2 billion, of which 9.3 billion was received by Kuwait .
    Kuwait's debts to Iraq are estimated at US $ 13.2 billion without interest .


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    • Post n°4

    Iraq to resume compensation for Gulf war next year Empty Re: Iraq to resume compensation for Gulf war next year

    Post by Proven Tue 21 Nov 2017, 4:13 pm

    Iraq to resume payments of Gulf War reparations to Kuwait - UN
    November 21 2017 10:20 PM
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    [ltr]


    [rtl]Iraq-Kuwait War (archive)[/rtl]






    Iraq has agreed to resume payments from its oil revenues to compensate fully $4.6 billion still owed to Kuwait for destruction of its oil fields and facilities during the 1990-91 Gulf War, the United Nations said on Tuesday, according to Reuters.


    Payments from the UN fund, which were suspended since October 2014 due to security and budgetary challenges faced by Iraq in its fight against ISIS - will begin with 0.5 percent of its oil proceeds in 2018 and escalate annually until the end of 2021, the UN Compensation Commission (UNCC) said.


    “Based on oil price and export projections, this would result in payment in full of the outstanding claim award,” the UNCC said in a statement issued in Geneva.


    The damages claim by the Kuwait Petroleum Corporation (KPC) (IPO-KUWP.KW) was the largest approved by the Geneva-based UNCC, set up by the UN Security Council in 1991.


    In 2000, the UNCC awarded $14.7 billion to Kuwait for oil production and sales losses incurred by the KPC, $4.6 billion of which is Iraq’s last debt.


    Kuwait accepted Baghdad’s proposal, which was also endorsed by the UNCC’s Governing Council on Tuesday in a special session of the body composed of the Security Council’s 15 members, the statement said.

    Under the four-year agreement, the percentage of proceeds from Iraqi oil and petroleum products paid into the UN coffers for payment to Kuwait will rise to 1.5 percent in 2019 and 3 percent in both 2020 and 2021, Leah Kraft, UNCC legal officer, told Reuters.


    The UNCC has awarded $52.4 billion to some 1.5 million successful claimants for damages to states, corporations and individuals due to Iraq’s invasion and seven-month occupation of Kuwait under former president Saddam Hussein.


    Iraqi Prime Minister Haider al-Abadi said on Tuesday that Islamic State had been defeated from a military perspective but he would only declare final victory after IS militants were routed in the desert. 

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    • Post n°5

    Iraq to resume compensation for Gulf war next year Empty Re: Iraq to resume compensation for Gulf war next year

    Post by Proven Tue 21 Nov 2017, 4:18 pm

    Iraq to start gas export to Kuwait soon
    November 20 2017 11:52 AM
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    [ltr]
    [rtl]Iraq to start oil export to Kuwait[/rtl]



    Iraq will begin exporting gas to Kuwait under an agreement recently signed between both sides, Kuwaiti Oil Minister Essam al-Marzouq said.

    Al-Marzouk added that some developments had been achieved regarding the agreement, stressing that "good news will be announced soon," Marzouq said.

    Under the agreement, Iraq will export to Kuwait about 50 million cubic feet of gas per day, within the first phase.

    Iraqi oil minister, Jabbar Luaibi, said earlier that Iraq was close to the export of crude gas to Kuwait, noting the Joint Technical Committee took advanced steps to expedite the implementation of the agreement. 



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    • Post n°6

    Iraq to resume compensation for Gulf war next year Empty Re: Iraq to resume compensation for Gulf war next year

    Post by Lobo Tue 21 Nov 2017, 5:24 pm

    Thanks Rocky and Proven, this is great news.
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    • Post n°7

    Iraq to resume compensation for Gulf war next year Empty Re: Iraq to resume compensation for Gulf war next year

    Post by weslin3 Tue 21 Nov 2017, 6:57 pm

    Iraqi Prime Minister Haider al-Abadi said on Tuesday that Islamic State had been defeated from a military perspective but he would only declare final victory after IS militants were routed in the desert.

    So have to have a round up and haul them out?
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    • Post n°8

    Iraq to resume compensation for Gulf war next year Empty Re: Iraq to resume compensation for Gulf war next year

    Post by weslin3 Tue 21 Nov 2017, 6:59 pm

    Hey I have an ideal. Get all of those ghost employees to pay Kuwait off with the stolen money from the CBI.. freak
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    • Post n°9

    Iraq to resume compensation for Gulf war next year Empty Re: Iraq to resume compensation for Gulf war next year

    Post by ahill Tue 21 Nov 2017, 11:13 pm

    weslin,

    Good idea - the crooks!
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    • Post n°10

    Iraq to resume compensation for Gulf war next year Empty Iraq to resume payment of Gulf War compensation to Kuwait next year

    Post by Rocky Wed 22 Nov 2017, 1:33 am

    [ltr]Iraq to resume payment of Gulf War compensation to Kuwait next year[/ltr]

     Since 2017-11-22 at 08:55 (Baghdad time)
    [ltr][You must be registered and logged in to see this image.][/ltr]
    [ltr]Follow up of Mawazine News[/ltr]
    [ltr]The United Nations said that Iraq agreed to resume the allocation of part of its oil revenues to pay 4.6 billion dollars in compensation to Kuwait for the destruction of its oil facilities during the Gulf War in 1990 and 1991.[/ltr]
    [ltr]Payments made since October 2014 due to security challenges and budgetary problems faced by Iraq in its war against the organization will start 0.5 percent of its oil revenues in 2018 and will increase annually until the end of 2021, the UN Compensation Commission said in a statement.[/ltr]
    [ltr]"Based on oil prices and export expectations, this will result in the payment of the remaining compensation," the committee said in a statement, referring to KPC's claim, the largest amount approved by the Geneva-based Compensation Commission set up by the UN Security Council in 1991.[/ltr]
    [ltr]In 2000, the compensation committee awarded Kuwait $ 14.7 billion for oil production and sales losses, of which the $ 4 billion and $ 640 million was the last part.[/ltr]
    [ltr]The statement said Kuwait accepted the Baghdad proposal, which was also approved by the board of governors of the Compensation Commission on Tuesday at a special session of the committee, which includes the 15 members of the Security Council.[/ltr]
    [ltr]The four-year agreement, according to Lea Kraft, told Reuters that under the four-year agreement, oil and other petroleum products paid by Baghdad to Kuwait through the United Nations would increase to 1.5 percent in 2019 and 3 percent in 2020 and 2021.[/ltr]
    [ltr]The Commission ruled that about 1.5 million claimants from states, companies and individuals received compensation of $ 52.4 billion because of Iraq's invasion and occupation of Kuwait for seven months under Saddam Hussein.[/ltr]




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    Iraq to resume compensation for Gulf war next year Empty Re: Iraq to resume compensation for Gulf war next year

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