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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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The Federal Bank stops the automatic deduction of Iraqi oil revenues in favor of Kuwait compensation

rocky
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The Federal Bank stops the automatic deduction of Iraqi oil revenues in favor of Kuwait compensation Empty The Federal Bank stops the automatic deduction of Iraqi oil revenues in favor of Kuwait compensation

Post by rocky Thu Dec 09, 2021 9:10 am

The Federal Bank stops the automatic deduction of Iraqi oil revenues in favor of Kuwait compensation
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The Chairman of the Committee of Financial Experts, Abdul Basit Turki, revealed today, Thursday, that the US Federal Reserve has stopped the automatic deduction from Iraqi oil revenues in favor of Kuwait’s compensation.
Turki said in an interview: “The Committee of Experts received a notification from the Central Bank of Iraq and the Compensation Committee, stating that the US Federal Reserve had stopped the deduction,” noting that “a final batch of Kuwait’s compensation amounting to 43 million dollars remains to be paid through the Central Bank of Iraq in one go to end Iraq.” These compensations are in full, amounting to 52.38 billion dollars.”
And he indicated that Iraq should seek to exit from the provisions of Chapter VII of the UN Charter.
Turki called for "the move of the Ministry of Foreign Affairs and the concerned authorities to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely."
The Iraqi government intends to pay the last batch of compensation for the Kuwait war, before the end of this year, after depositing, the day before yesterday (Tuesday), more than 207 million US dollars, in the compensation account with the US Federal Reserve, to end the compensation file completely.
The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $ 52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait.
Iraq stopped making payments in 2014 during the war on ISIS, which took control of large parts of the country, but resumed payments in 2018.
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