UN panel approves over $365 million in damages from Iraqi invasion of Kuwait

A United Nations panel charged with disbursing compensation arising from Iraq's 1990 invasion and subsequent occupation of Kuwait today approved awards totalling over $365 million.

Of the funds approved by the Geneva-based Governing Council of the UN Compensation Commission, $117.2 million went for claims related to the oil sector filed by governments on behalf of corporations.

The Governing Council, which has the same membership as the UN Security Council, is the Compensation Commission's policy-making organ.

To date, the Commission has awarded more than $35.8 billion in compensation, over $12.7 billion of which has been made available to governments and international organizations for distribution to successful claimants.