Arab Today, arab today almudhaf iraq still owes kuwait 57bn in compensations for war damage
Last Updated : GMT 01:38:25
Arab Today, arab today
Arab Today, arab today

Al-Mudhaf: Iraq still owes Kuwait $5.7bn in compensations for war damage

Arab Today, arab today

Arab Today, arab today Al-Mudhaf: Iraq still owes Kuwait $5.7bn in compensations for war damage

Chairman of the Board of the public authority for assessment of compensation for damage resulting from the Iraqi aggression (PAAC) Khaled Ahmad Al-Mudhaf
Geneva - KUNA

After receiving a new batch of Iraqi occupation compensations, estimated at USD 1.19 billion, Kuwait announced Thursday that Iraq still owes it USD 5.7 billion in outstanding compensations.
"The Sate of Kuwait thanks on Thursday the Governing Council of the United Nations Compensation Commission (UNCC) Secretariat for the distribution on 24 July 2014 of 1.19 billion US Dollars," said Chairman of the Board of the public authority for assessment of compensation for damage resulting from the Iraqi aggression (PAAC) Khaled Ahmad Al-Mudhaf at the opening of the 78th session of the NNCC Governing Council (2-3 Oct.).
"With this payment, approximately 5.7 billion US Dollars remain outstanding and we look forward to receiving the future quarterly payments until all the compensation is paid in full.
He went on to say that "Indeed, Mr. President, Kuwait's sustained receipt of these payments depends on the continued replenishment of the Compensation Fund in accordance with relevant Security Council Resolutions." Al-Mudhaf said that Kuwait acknowledges Iraq's commitment towards the payment of the compensations.
"Kuwait stresses the need for continuation of regular deposits in the Compensation Fund, as provided for in UN Security Council Resolution 1956, of 5 percent of the proceeds from all export sales of petroleum, petroleum products and natural gas of Iraq; as well as 5 percent of the value of any non-monetary payments of petroleum, petroleum products and natural gas. In this regard, Kuwait would like to acknowledge the ongoing commitment of Iraq which is the object of our appreciation and respect," he added.
The Kuwait official also underlined the need for transparency in handling the deposits in the Compensation Fund.
"Kuwait stresses also the importance of continuing to maintain a transparent mechanism to ensure that the amounts deposited into the Compensation Fund are accurate," he said.
"It is the sustained deposit of these funds in the Compensation Fund that will bring us all closer to the ultimate fulfillment of the Governing Council's mandate regarding full payment of the compensation which was approved by the Council." He also urged the UNCC Governing Council to do its best to ensure the full payment of the outstanding compensation.
"In the meantime, we would like to recall that guaranteeing payment of the outstanding amount to Kuwait is a responsibility of the Governing Council under its original mandate. Therefore, the UNCC should not relent in its efforts until the full amount is paid." Al-Mudhaf calls the attention of the committee to Governing Council Decision no. 252 concerning competing /duplicate claims which calls for the recovery of overpaid amounts from the final payment to Kuwait.
"In this regard, the Government of the State of Kuwait agreed and intend to pay in full the unrecovered amounts in the near future, rather than having it deducted from the final payment," he said.
"Based on the recommendations of the Governing Council and the close collaboration with the Council members, the Government of the State of Kuwait would like to reiterate its engagement in relation to the environmental programme and its continuing effort to achieve its objectives and so as to meet the Council's expectations and the environmental remediation."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today almudhaf iraq still owes kuwait 57bn in compensations for war damage Arab Today, arab today almudhaf iraq still owes kuwait 57bn in compensations for war damage

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 15:48 2017 Wednesday ,22 February

GOIC Encourages Paper Industry in GCC States

GMT 07:47 2017 Wednesday ,22 February

Iran, Iraq agree to re-export oil from Karkuk

GMT 06:26 2017 Wednesday ,22 February

Saudi tourism to reach $81bn by 2026

GMT 04:16 2017 Wednesday ,22 February

Dubai boat show to showcase 450 new vessels

GMT 04:13 2017 Wednesday ,22 February

Defence deals worth Dh4b inked on Day 3 of Idex
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday