Thursday, July 25, 2013
United Nations Compensation Commission Makes Another Billion Dollars Available for Damages from Iraq's Invasion of Kuwait
The United Nations
Compensation Commission (UNCC), which settles the damage claims of those
who suffered losses due to Iraq's 1990 invasion of Kuwait, today made
$1.07 billion available to the Government of Kuwait.
The remaining category E claim was submitted by the Government of Kuwait
on behalf of the Kuwait Petroleum Corporation, stated a news release
issued by the Geneva-based Commission.
In 2000, the claim was awarded $14.7 billion for oil production and
sales losses as a result of damages to Kuwait's oil field assets and
represents the largest award by the UNCC's Governing Council. With this payment, the Commission has paid out $42.3 billion of its
total awarded amount of $52.4 billion to over 100 governments and
international organizations for distribution to 1.5 million successful
claimants in all claim categories, leaving approximately $10.1 billion
remaining to be paid.
Successful claims are paid with funds drawn from the UN Compensation
Fund, which is funded by a percentage of the proceeds generated by the
export sales of Iraqi petroleum and petroleum products.
The UNCC's Governing Council has identified six categories of claims:
four are for individuals' claims, one for corporations and one for
governments and international organizations, which also includes claims
for environmental damage.
The Commission was established in 1991 as a subsidiary organ of the UN
Security Council. It has received nearly three million claims, including
from nearly 100 governments for themselves, their nationals or their
corporations.
(adapted from a UN press release)
https://lawprofessors.typepad.com/international_law/2013/07/united-nations-compensation-commission.html
