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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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    IRAQ COMPLETES THE PAYMENT OF 50 BILLION DOLLARS TO KUWAIT IN COMPENSATION

    Rocky
    Rocky
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    IRAQ COMPLETES THE PAYMENT OF 50 BILLION DOLLARS TO KUWAIT IN COMPENSATION Empty IRAQ COMPLETES THE PAYMENT OF 50 BILLION DOLLARS TO KUWAIT IN COMPENSATION

    Post by Rocky Wed 28 Apr 2021, 8:02 am

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    The United Nations Committee on the Settlement of Claims of Those Affected by the Iraqi Invasion of Kuwait in 1990 said it paid an additional $ 380 million on Tuesday, bringing the total amount it paid to compensation claimants to $ 50.7 billion.
    The committee clarified that accordingly, the Kuwaiti government has an amount of $ 1.7 billion, to meet a pending demand made by the Kuwait Petroleum Corporation for its lost oil production and sales as a result of damage to the oil fields.
    The payments come from Iraqi oil revenues and are delivered every 3 months.
    According to the committee's statement, based on a decision taken in 2017, payments were set at 0.5% of Iraqi oil revenues in 2018, 1.5% in 2019, and 3% in 2020 until the compensation payment is completed.
    And the Security Council Committee was established in 1991, and decided that Iraq should pay $ 52.4 billion to Kuwaiti individuals, companies and government agencies, who suffered losses due to Iraq’s invasion of Kuwait.
    The claims are paid from the United Nations Compensation Fund, which receives a percentage of the proceeds from the export sales of Iraqi oil and its products, and this rate was set at 5% at the beginning, and the percentage was reduced on more than one occasion until the final amount was agreed upon in 2017.
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    weslin3 and chouchou like this post

    weslin3
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    IRAQ COMPLETES THE PAYMENT OF 50 BILLION DOLLARS TO KUWAIT IN COMPENSATION Empty Re: IRAQ COMPLETES THE PAYMENT OF 50 BILLION DOLLARS TO KUWAIT IN COMPENSATION

    Post by weslin3 Wed 28 Apr 2021, 8:20 am

    This is good news.. Thanks Rocky for this article. Dance

    chouchou likes this post

    weslin3
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    IRAQ COMPLETES THE PAYMENT OF 50 BILLION DOLLARS TO KUWAIT IN COMPENSATION Empty Re: IRAQ COMPLETES THE PAYMENT OF 50 BILLION DOLLARS TO KUWAIT IN COMPENSATION

    Post by weslin3 Wed 28 Apr 2021, 10:25 am

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    So which is it? Paid off or owe 52 Billion remain?

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