UN panel approves $2.27 billion in compensation for Iraq's invasion of Kuwait

The United Nations panel set up to process claims and pay compensation for losses and damage suffered as a result of Iraq's invasion and occupation of Kuwait in 1990-1991 today approved awards of more than $2.27 billion, bringing the total awarded so far to $46.3 billion.

Of this amount some $17.6 billion has been made available to governments and international organizations for distribution to successful claimants of all categories.

More than $150 billion in claims have been filed with the panel, the UN Compensation Commission (UNCC), which decided to hold its next session from 16 to18 September.

Money for the awards comes from the UN Compensation Fund, which received up to 30 per cent of the revenue generated by Iraqi oil exports under the UN's Oil-for-Food programme, which allowed the former sanctions-bound regime to sell oil for humanitarian supplies. That programme will be phased out by 21 November.