Money paid out by UN Compensation Commission for Kuwait invasion tops $21 billion
The amount of money paid out by the United Nations Compensation Commission (UNCC) settling damage awards stemming from Iraq’s 1990 invasion and occupation of Kuwait topped $21 billion today with the allocation of more than $417 million to 46 claimants in seven countries.
The amount of money paid out by the United Nations Compensation Commission (UNCC) settling damage awards stemming from Iraq’s 1990 invasion and occupation of Kuwait topped $21 billion today with the allocation of more than $417 million to 46 claimants in seven countries.
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 now defunct UN Oil-for-Food programme, which allowed the sanctions-bound regime of Saddam Hussein to sell oil for humanitarian supplies.
Today’s payment of $417,819,931 brings the overall amount of compensation made available to date by the UNCC to $21,417,164,895.48.