Why Kuwait is Looking to get 4.6 Billion U.S Dollars from Iraq?

Kuwait has confirmed its readiness about future options to secure the continuous payment from Iraqi government amounted at 4.6 billion U.S dollars. It has been considered a part of compensation regarding the losses in the former regime in the year 1990. The statement was delivered on Monday 24th April 2017 by (the Chairman of General Authority for Assessment of Compensation Administration for losses of Saddam’s invasion) Khalid Ahmed Al-Mudhaf in the 82nd session of the UN Compensation for the loss of invasion against Kuwait. He further added that the government of Kuwait positively responded regarding the decision of the UN Compensation Commission’s Governing Council in its 81st session held in the month of November 2016. The government of Kuwait and Iraq were encouraged to cooperate on the future options in order to develop their relations and secure the continuous payment process regarding the payment for the benefit of Kuwait State.

iraqi dinarAl-Mudhaf pointed out that Kuwait had positively supported during the special session held in the month of December 2014 (resolution 272 in 2014) by the Governing Council of the UN. The government of Iraq requested in this session to postpone the payment of dues because Iraq had been experiencing most critical economic and security situations. He also pointed the UN Compensation Resolution 273 of 2015 (management adoption) of the Governing Council. It also postponed the international obligations on Iraq to submit 5% in the Compensation Fund for an additional year until the 1st January 2016. It was due to continuous economic & security situations in Iraq. He also confirmed that the government of Kuwait supported for the 3rd time regarding the 81st session on 2nd November 2016. It delayed the continuation process for the 5% deposit in the compensation Fund for additional year until 1st January 2018 due to continuous economic & security condition in the country.

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