The United Nations spent $1.3 billion in compensation for Iraq's invasion of Kuwait

2012-07-28



New York/JD/... The United Nations has made requests for compensation for the value of $1.3 billion for six suffered economic losses and personal as a result of Iraq's invasion of Kuwait in 1990.

The compensation fund of the United Nations only more than 1.5 million compensation totalling $37 billion. The Fund gets its money through deduction of a portion of the proceeds from the sale of Iraqi oil to pay such compensation.

The Fund was founded in 1991 by a decision of the Security Council after the 1991 Gulf war which ended Iraq's invasion of Kuwait.

It is estimated that the Iraqi invasion of Kuwait led to multibillion-dollar losses, including the destruction of Kuwaiti oil fields.

Saddam has agreed to pay compensation to those affected by the invasion, whether Governments or companies or individuals.

He said the Geneva-based compensation fund received about 3 million of them complaints about 100 Government and its citizens. /agencies