UN distributes $880 million in reparations for Iraq's 1990 Kuwait invasion

UN distributes $880 million in reparations for Iraq's 1990 Kuwait invasion

2011-04-28 21:14:54 GMT+7 (ICT)

UNITED NATIONS (BNO NEWS) -- The United Nations (UN) on Thursday announced that its Compensation Commission (UNCC) made $880 million available to nine successful claimants who suffered losses due to Iraq's 1990 invasion of Kuwait.

The latest round of payments brings the total amount of compensation disbursed by the Commission to $32.2 billion for more than 1.5 million successful claims of individuals, corporations, Governments and international organizations, states a news release.

The UNCC settles damage claims of those who suffered loss of property, deaths, loss of natural resources, damage to public health and environmental damage during Iraq's 1990-1991 invasion and occupation of Kuwait.

Successful claims are paid with funds drawn from the UN Compensation Fund, which is funded by a percentage of the proceeds generated by the export sales of Iraqi petroleum and petroleum products.

The Geneva-based UNCC's Governing Council identified six categories of claims: four are for individuals' claims, one for corporations and one for governments and international organizations, which also includes claims for environmental damage.

The Commission was established in 1991 as a subsidiary organ of the UN Security Council. It has received nearly 3 million claims, including from close to 100 governments for themselves, their nationals or their corporations.

-- © BNO News All rights reserved 2011-04-28