[size=30]Iraq pays a new bill for Kuwait .. and still has to complete the amount[/size][You must be registered and logged in to see this image.]
Saleh said in a statement followed by NRT Arabia, (November 2, 2021), that "based on UN Security Council Resolution No. 692 issued on March 20, 1991, it was decided to establish the so-called United Nations Compensation Committee (UNCC) to deal with compensation claims resulting from Iraq's invasion of Kuwait in August 1990. Iraq had to pay compensation to international and Kuwaiti individuals and entities, totaling nearly $52.4 billion, according to compensation lists approved by the United Nations Compensation Fund.
He added, "Iraq has recently paid 490 million dollars of the compensation amounts approved by the United Nations Compensation Committee, and will work to pay the remaining amount of the total compensation, estimated at about (629) million dollars, early next year 2022, to close the compensation file permanently."
Saleh explained, "Accordingly, Iraq has actually started paying compensation since the inception of the so-called, the oil-for-food program with the United Nations in 1996, as the beginning was to pay 30% of the value of each exported barrel of oil at the expense of the program, to be deducted for compensation The Kuwait war, through an account that the Secretary-General of the United Nations was holding.
He pointed out that "after 2003 and under UN Security Council Resolution 1483, an alternative mechanism was established that ensured deduction of 5% of the value of each barrel of crude oil exported from Iraq, and through a bank account known as the Development Fund for Iraq DFI opened with the Federal Reserve Bank in New York in the name of the Central Bank. The Iraqi government and in the interest of the Government of the Republic of Iraq, provided that the United Nations provide sufficient legal immunity for the aforementioned account against any lawsuits raised by the creditor parties against Iraq, as well as the establishment of a council called (the International Council for Supervision and Verification IAMB) to monitor the financial behavior of oil revenues and whether they go to the benefit of the Iraqi people.
And Saleh indicated that "the aforementioned International Council for Supervision and Verification ended its work in light of Security Council Resolution No. 1956 in December 2010 as part of the procedures for lifting Chapter VII provisions on Iraq, then the deductions stopped temporarily between 2015-2017 due to the war on ISIS terrorism and the situation The difficult financial situation that Iraq went through due to the decline in oil revenues.
He pointed out that "compensation has resumed again since 2018, with a deduction of a maximum of 3% of the value of each exported Iraqi barrel of oil, according to the same deduction mechanism and through the role of the United Nations Compensation Committee, which is still a party to the oil receipts account opened at the Federal Reserve Bank of New York." .
Saleh concluded, by saying: "What we expect next year is the removal of the last trace of Chapter VII imposed by the Security Council on Iraq more than 30 years ago, due to the Kuwait war at that time, and the closure of this file forever."
It is reported that Iraq paid the State of Kuwait on 10/26/2021, an amount of (490) million dollars.
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