Iraq pays $30 billion as compensation to Kuwait
July 30, 2010 - 10:03:48
BAGHDAD / Aswat al-Iraq: The U.N. committee paid on Thursday $650 million in Iraqi compensation to Kuwait, raising the total amount paid to Kuwait as compensation to $30 billion, spokesman of the Iraqi government said on Friday.
“These compensations are paid every three months from the Iraqi Development Fund’s budget, according to the U.N. Chapter VII,” Ali al-Dabbagh told Aswat al-Iraq news agency.
The payment brings the total sum of compensation paid to Kuwait to 30 billion dollars. A further 22.3 billion dollars is due to Kuwait.
Following the 1991 invasion of Kuwait, Iraq is required to put five percent of its oil and gas revenues into the UN reparations fund.
Iraq will be taking control over all their own money dec. 31st. 2010