UN Extends Iraq Compensation Requirement

The UN Security Council has voted unanimously to postpone by six months a requirement that Iraq contribute a portion of petroleum export sales into a UN compensation fund for victims of its 1990 invasion of Kuwait.

A council resolution adopted in 2010 that lifted some sanctions on Iraq called for the government to deposit 5 per cent of proceeds from petroleum export sales and 5 per cent of the value of non-monetary payments for petroleum products and natural gas into the compensation fund.

The payments have been postponed several times.

Iraq, with support from Kuwait, asked the UN Compensation Commission’s governing council for another postponement in November, citing Iraq’s difficult security situation.

US Deputy Ambassador Michele Sison said Friday the latest six-month extension was needed to “tie up a few outstanding issues.”


source : gulfnews