UN: Iraq makes final payment to Kuwait for 1990 invasion restitution

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Feb. 10 (UPI) — The United Nations said Wednesday that Iraq has made its final payment of nearly $53 billion in restitution to Kuwait for the 1990 invasion.

The United Nation’s Compensation Commission announced Wednesday it has processed the final claim totaling $52.5 billion.

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Some 1.5 million successfully made claims to the commission out of 2.7 million submitted in connection with the Iraqi invasion of Kuwait, led by former leader Saddam Hussein, leading to the first Gulf War under U.S. President George H.W. Bush.

“All compensation awarded by the commission has now been paid in full,” the commission said in a statement. “Funds to pay compensation were drawn from the United Nations Compensation Fund which received a percentage of the proceeds generated by the export sales of Iraqi petroleum and petroleum products.”

The commission said the percentage of compensation from Iraqi oil was originally set at 30% and this deceased over the years to 3% by 2017.

Iraq had temporarily stopped payments in 2014 because of its war against the Islamic State, but resumed the restitution payments in 2018.