Report

rss

Iraq News

Kurdistan

Economy

World

All News

Kuwait’s Treasury: the remainings from the Iraqi compensations are $2.099billion

Category: Economy

Date: 2021-03-30T10:19:09+0000
Kuwait’s Treasury: the remainings from the Iraqi compensations are $2.099billion

Shafaq News/ The Minister of Finance, Minister of State for Economic Matters and Investment, Khalifa Hamadeh, revealed that the remaining amount from the Iraqi compensation for Kuwait is 2.099 billion dollars, stressing that Iraq did not request, neither directly nor through mediators, to abolish the remaining balance.

Hamadeh clarified in response to the Kuwaiti parliament that the remaining amount is paid quarterly.

He added, “the payment process will continue this way until the remaining amount is fully paid. The compensations are expected to be fully paid in mid-2022 If the oil price settled at 60 dollars per barrel since the amount is related to the international prices of oil and the Iraqi oil sales”.

Iraq must deposit 5% of oil and gas export revenues in an international fund established under the name of the United Nations Compensation Fund.

In 1991, an international compensation committee was formed, which obligated Baghdad to pay 52.4 billion dollars as compensation for individuals, companies, governmental organizations, and others that inflicted direct losses from the Iraqi invasion and occupation of Kuwait.

related

Iraq fulfills its obligations to Kuwait under UNCC supervision

Date: 2021-12-21 20:40:21
Iraq fulfills its obligations to Kuwait under UNCC supervision

Iraq delivers the last payment of $44 million to Kuwait 

Date: 2021-12-23 08:01:54
Iraq delivers the last payment of $44 million to Kuwait 

Kuwait and GCC signs an agreement to annex Iraq into Gulf's interconnection grid

Date: 2022-03-24 13:02:08
Kuwait and GCC signs an agreement to annex Iraq into Gulf's interconnection grid

Iraq demands forming a committee to follow up on the outcomes of the Kuwait Donors Conference

Date: 2020-12-06 10:27:32
Iraq demands forming a committee to follow up on the outcomes of the Kuwait Donors Conference

Numbeo: Cost of Living in Iraq is Higher than Turkey and Less than Kuwait

Date: 2021-02-28 07:46:38
Numbeo: Cost of Living in Iraq is Higher than Turkey and Less than Kuwait

Iraq to inaugurate a new border crossing with Gulf countries soon

Date: 2021-08-15 19:08:24
Iraq to inaugurate a new border crossing with Gulf countries soon

Al-Kadhimi invites Kuwaiti companies to invest in Iraq

Date: 2021-08-22 19:32:10
Al-Kadhimi invites Kuwaiti companies to invest in Iraq

Iraq to fulfill its obligation to Kuwait in the first quarter of next year

Date: 2021-11-08 07:17:45
Iraq to fulfill its obligation to Kuwait in the first quarter of next year