São Paulo – The United States Compensation Commission (UNCC) has made US$ 1.24 billion available to Kuwait this Thursday (23rd). The amount is part of a US$ 54.2 billion compensation for losses incurred by the country during the Gulf War, in the early 1990s.
The UNCC was established in 1991 to process claims and pay compensation for losses and
Damages incurred by individuals, corporations, governments and international organizations as a direct result of Iraq’s invasion and occupation of Kuwait. The Commission received approximately 2.7 million claims and concluded its review of all claims in 2005. Approximately $52.4 billion was awarded to over 100 Governments and international organizations for distribution to 1.5 million claims in all claim categories.
The UNCC ruled that US$ 54.2 billion were due to more than 100 governments and international organizations, and that 1.5 million claims warranted compensation. According to the UNCC, US$ 43.5 billion have been paid thus far, including the funds made available this Thursday to Kuwait. The only outstanding claim, worth US$ 8.9 billion, was submitted by the
Government of the State of Kuwait on behalf of the Kuwait Petroleum Corporation, which has been awarded US$ 14.7 billion in 2000 for oil production and sales losses as a result of damages to Kuwait’s oil field assets
According to a press release, the UNCC uses 5% of Iraq’s oil and oil products revenues to pay the compensations, in accordance with the United Nations Security Council resolution 1483, issued in 2003 and reaffirmed in a number of subsequent resolutions, most recently under Security Council resolution 1956, in 2010
The Gulf War was a result of the invasion of Kuwait, on August 2, 1990, by Saddam Hussein’s Iraq, in an attempt to annex the country. A coalition of 30 countries, led by the United States, bombed Iraq and sent troops to the country. The conflict ended in March 1991.
*Translated by Gabriel Pomerancblum
