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UN's Kuwait invasion fund pays out $1.3B - ASHARQ AL-AWSAT English Archive
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UNITED NATIONS (AP) — The U.N. Compensation Commission that settles damage claims from victims of Iraq’s 1990 invasion of Kuwait on Thursday approved $1.3 billion for six successful claimants.

The Geneva-based U.N. Compensation Commission is funded by a 5 percent tax on the export of Iraqi oil, as determined by the U.N. Security Council in 2003.

Thursday’s payments were made to four individuals, a corporation and a government or international organization, none of which were identified in the UNCC’s announcement.

The agency has now paid out a total of $37.7 billion for more than 1.5 million successful claims by individuals, corporations, governments and international organizations, the statement said.

The Commission was established in 1991 by the U.N. Security Council. It has received nearly 3 million claims, from nearly 100 governments for themselves, their nationals or their corporations.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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