Iraq compensation commission awards $223 million to Kuwait invasion victims

14 March 2003
The UN Compensation Commission (UNCC) on 13 March announced awards of more than $223 million in compensation to individuals, governments and companies that suffered losses during the Kuwait crisis of 1990/91.

This has raised the amount awarded in compensation since the UNCC was established to about $44,000 million. About $16,700 million of this has been paid. The awards were approved during the 47th session of the commission on 11-13 March. They were made in four parts; $117 million has gone to individuals claiming losses of more than $100,000, $11.2 million to non-Kuwaiti claims outside the oil, construction and export guarantee sectors, $700,000 for non-Kuwaiti construction and engineering claims and $95 million to Kuwaiti non-oil corporations.

The claims will be paid out of the proceeds of sales of Iraqi crude oil. More than $300,000 million worth of claims have been made against Iraq for losses during the Kuwait crisis. Sources close to the UNCC estimate that they expect the final pay-out will probably not exceed $70,000 million, equivalent to about three times annual Iraqi oil export earnings. The next meeting of the commission, due to be held on 24-26 March, is expected to make decisions about the largest single outstanding claim. This involves a demand for $86,000 million worth of compensation by the Kuwait Investment Authority (KIA), the state investment arm of the government of Kuwait.

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