BERLIN (AP) — A U.N. panel overseeing compensation claims by countries and organizations affected by Iraq’s 1990-1991 invasion of Kuwait says it has paid $240 million to the Gulf state’s national oil company.
The United Nations Compensation Commission said Tuesday that the latest tranche brings to $48.3 billion the amount it has paid out since 2005. Iraq must currently set aside 1.5% of its oil export sales for the compensation fund.
The panel has approved 1.5 million claims brought by over 100 governments and international organizations, with all but one fully paid out.
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The remaining claim, which includes the latest payment, comes from the Kuwait Petroleum Corporation. Some $4.1 billion of its $14.7 billion claim for oil production and sales losses resulting from damage to the country’s oil fields remain to be paid.
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