On Tuesday, the United Nations Compensation Commission (UNCC) announced that $380 million more was paid to Kuwait, as part of the Iraqi debt owed to the Gulf country due to its invasion of Kuwait in 1990.
According to the UNCC’s statement, the payment was budgeted from the revenues that Iraq gained from the oil sale. By this payment, Iraq’s total money paid to Kuwait as reparation has reached $50.7 billion.
The UN body stated that the remaining part of the debt, that was determined upon the request by the Kuwait Petroleum Corporation for its losses arising from the invasion, is $1.7 billion.
The issue was discussed during Kuwaiti Foreign Minister Ahmed Nasser Al Sabah’s visit to Iraq. It was reported that during the meeting the Iraqi government demanded the postponement of the payment due to the sharp decrease in oil revenues caused by the coronavirus pandemic’s economic repercussions.
In March, Iraqi official Mazhar Salih told reporters that the remaining debt is planned to be paid within a year.
In 1991, following the Iraqi defeat, the United Nations ordered Baghdad to pay $52.4 billion as compensation to individuals, companies, governmental organizations as well as others who sustained losses due to the Iraqi invasion of Kuwait.