UN pays $270mn compensation to Kuwait government

UN pays $270mn compensation to Kuwait government
Published: 25 July 2019 - 8 a.m.
By: Carla Sertin

The United Nations Compensation Commission awarded the government of Kuwait with $270mn as compensation for losses and damages sustained during the invasion by Iraq in 1990-91.

The claims come from the UNCC fund which takes a percentage of proceeds that are generated from the sale of Iraq's petroleum and petroleum products. That percentage has changed over time, set at 0.5% in 2018, increased to 1.5% in 2019, and set to increase to 3% at the start of 2020, where it will remain "until such time as the outstanding compensation has been paid in full."

According to a press release from the UNCC, it received 2.7mn claims following the invasion, and awarded $52.4bn to 100 organisations and governments to be distributed to 1.5mn claimants.

Click here to add your comment

Please add your comment below
Your email address will not be published