Iraq seeks to reduce 80% of the compensation that goes to Kuwait
2010-04-07 10:57:09 2010-04-07 10:57:09
BAGHDAD (Iba) .. The United Nations called on Iraq to cut 80% of the volume of oil revenues allocated to meet the annual compensation of War, which go mainly of Kuwait.
He said Iraq's ambassador to the United Nations, Hamid al-Bayati said in press statements that Iraq has asked the Security Council of the United Nations exemption from such compensation or reduced rate, after almost 20 years to get into Iraq and occupation of Kuwait in the era of former president Saddam Hussein.
He said al-Bayati said Iraq owes compensation of 25.5 billion dollars, of which 24 billion dollars owed to Kuwait and alone.
And allocates Iraq under Chapter VII of the Charter of the United Nations 5% of its petroleum revenues to pay compensation resulting from the occupation of Kuwait in 1990-1991.
Bayati said "We see a complete waiver by either one hundred percent of compensation or reduced to a rate of one percent" of Iraq's annual oil revenues, pointing to the possibility of the acceptance rate of one percent.
Kuwait opposes ending the situation in Iraq under Chapter VII, despite the claim of Baghdad, dropping the debt or to reduce Iraq's need for additional funds to help finance reconstruction projects and investment.
Bayati said the payments a heavy burden on Iraq and that "people pay dearly for the crime committed by Saddam," who was overthrown by US-led invasion in 2003
"We paid far more than 27 billion dollars and we still have to pay 25 billion dollars. And then, the total compensation to about 53 billion dollars and this is too much for Iraq in view of the budget."
Welcomed by several countries in the earlier Iraq's request to reduce the war reparations, and the Secretary General of the United Nations, Ban Ki-moon said he would also support a strong Iraq's progress and other alternative solutions to the payment of compensation. (End) / C / ...
2010-04-07 10:57:09 2010-04-07 10:57:09
BAGHDAD (Iba) .. The United Nations called on Iraq to cut 80% of the volume of oil revenues allocated to meet the annual compensation of War, which go mainly of Kuwait.
He said Iraq's ambassador to the United Nations, Hamid al-Bayati said in press statements that Iraq has asked the Security Council of the United Nations exemption from such compensation or reduced rate, after almost 20 years to get into Iraq and occupation of Kuwait in the era of former president Saddam Hussein.
He said al-Bayati said Iraq owes compensation of 25.5 billion dollars, of which 24 billion dollars owed to Kuwait and alone.
And allocates Iraq under Chapter VII of the Charter of the United Nations 5% of its petroleum revenues to pay compensation resulting from the occupation of Kuwait in 1990-1991.
Bayati said "We see a complete waiver by either one hundred percent of compensation or reduced to a rate of one percent" of Iraq's annual oil revenues, pointing to the possibility of the acceptance rate of one percent.
Kuwait opposes ending the situation in Iraq under Chapter VII, despite the claim of Baghdad, dropping the debt or to reduce Iraq's need for additional funds to help finance reconstruction projects and investment.
Bayati said the payments a heavy burden on Iraq and that "people pay dearly for the crime committed by Saddam," who was overthrown by US-led invasion in 2003
"We paid far more than 27 billion dollars and we still have to pay 25 billion dollars. And then, the total compensation to about 53 billion dollars and this is too much for Iraq in view of the budget."
Welcomed by several countries in the earlier Iraq's request to reduce the war reparations, and the Secretary General of the United Nations, Ban Ki-moon said he would also support a strong Iraq's progress and other alternative solutions to the payment of compensation. (End) / C / ...