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UN panel pays over $597 million in claims arising from Iraq's invasion of Kuwait

UN panel pays over $597 million in claims arising from Iraq's invasion of Kuwait

A United Nations panel in Geneva today paid out more than $597 million for claims resulting from losses and damage suffered as a direct result of Iraq's 1990 invasion and subsequent occupation of Kuwait.

The UN Compensation Commission announced that the funds would go to 17 governments and one international organization for payment to 327 claimants.

The money to pay the awards is drawn from the UN Compensation Fund, which receives up to 30 per cent of the revenue generated by the export of Iraqi oil and other petroleum products. The Commission has so far paid a total of $16,680,964,976.12 to various claimants.