Kuwait: The remaining amount of the compensation owed by Iraq estimated $8.9 billion dollars

Posted: November 24, 2013 in Iraqi Dinar/Politics
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Kuwaiti official: Kuwait is looking forward to continue to receive future quarterly payments until the full repayment of the amounts of compensation

The head of “Public Authority for Assessment of Compensation for Damages Iraqi aggression,” Khaled Ahmad Al-Mudhaf that the remaining amount of Kuwait is estimated at 8.899 billion dollars and Kuwait “looking forward” to continue to receive payments of future quarterly until payment of the full amount of compensation.

The Kuwait News Agency that it came in a speech today in front of the Amadv Session 76 of the UN Commission for compensation.

She said Almudaf “expressed the gratitude of the Board of Directors and the Secretariat of the Compensation Committee of the UN efforts in the distribution of the amounts of compensation which was 1.07 billion dollars in the July 25 July 2013 followed by the second batch amounted to 1.24 billion dollars in October 24 October 2013.

He explained that “these two batches of Kuwait left an estimated $ 8.899 billion dollars Kuwait is looking forward to continue to receive future payments on a quarterly basis until the full repayment of the amounts of compensation.”

Mudhaf said that “the promotion of Kuwait continue receiving these payments depends on the continued flow of income compensation fund in accordance with the decisions of the relevant Security Council.”

He stressed that Kuwait “emphasizes the need to continue filing regular in the Compensation Fund for five percent of the proceeds from all export sales of Iraqi petroleum and petroleum products, natural gas, according to the UN Security Council Resolution 1956 as well as five percent of the value of any payments other than cash for oil and petroleum products and natural gas. ”

He pointed out that “the State of Kuwait also emphasizes the importance of continuing to maintain a transparent mechanism to ensure scrutiny of the amounts transferred to the Compensation Fund also commends Kuwait on Iraq’s commitment to continuing to fulfill its obligations.”

He Almudaf “that the continuation of the deposit these amounts in all of the Compensation Fund will bring us closer to the ultimate achievement of the mission of the Board of Directors regarding the payment of full compensation to the State of Kuwait, which was approved by the Board that the right of the people of the State of Kuwait.”

He pointed out that Almudaf Kuwait is committed to what was agreed upon from the beginning when it was agreed in 2008 to meet Iraq and Kuwait under the auspices of the United Nations Compensation Commission to discuss the issue and the remaining amounts payable to Kuwait.

“We have renewed the State of Kuwait and repeated in different connections commitment and willingness to discuss this issue under the umbrella of the United Nations Commission on Compensation We recognize the efforts of the Commission and, in particular, that it stands ready to provide experts and provide technical assistance in order to help to make real progress in this regard.”

Almudaf stressed that “ensure the payment of the remaining amounts owed to Kuwait is the responsibility of the Board of Directors in accordance with its primary functions and this should not be on the United Nations Commission on Compensation of efforts to shrink until it is to pay the full amount.”

He also stressed Almudaf “the need to deal more quickly with the request of Kuwait retrieve some sensitive and confidential documents from the Committee.”

He said in his speech that Kuwait welcomes the “the opportunity to find a Memorandum of Understanding between the United Nations Commission on Compensation and Government of the State of Kuwait for an agreed solution on this issue.”

He expressed his aspiration to Kuwait approaching the finalization of the document and that Kuwait will continue to work closely with the Secretariat of the United Nations Commission for compensation in this regard.

He said the “submission of documents was based on written and verbal understanding whereby re these documents to the State of Kuwait after the completion of the review process and in the fifty-seventh session of the Board of Directors in September 2005 made a formal request for the State of Kuwait to retrieve these documents.”

He explained that “the United Nations Commission on Compensation and Government of the State of Kuwait agreed on July 25, 2006 to retain the documents in place within the United Nations in order to maintain the integrity of the policy of archiving adopted by the Governing Council at its session in December 2003, and also to facilitate access to the United Nations Committee or auditors to documents when needed without restriction. ”

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