UN compensates Kuwait victims via Iraqi oil funds

April 26, 2007 11:34


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The UN panel overseeing compensation for victims of Iraq's 1990 invasion of Kuwait said Thursday it has paid out a US$280 million (€205 million) installment from Iraqi oil funds to cover claims for losses and damages. The latest transfer - which consisted of 41 separate payments to governments, international organizations and corporations ranging from US$2 million (€1.5 million) to US$10 million (€7.3 million) - brings the total amount paid in compensation to more than US$22.1 billion (€16.2 billion). Most of the payments - about US$229.5 million (€168.1 million) - went to 35 claimants in Kuwait, the United Nations Compensation Commission said. Further payments were made to claimants in Bosnia-Herzegovina, Egypt, Saudi Arabia, Turkey and the United States.

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