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U.N. awards Kuwait $1 bn from Iraq invasion fund

  • In this Saturday, Feb. 26, 2011, file photo, U.S. Army heavy battle tanks are seen during a military parade commemorating the 20th anniversary of the liberation of Kuwait from the 1990 Iraqi invasion in Subiya, 120km north east of Kuwait City. (AP Photo/Gustavo Ferrari-File)

GENEVA: A United Nations body that handles war reparations for Iraq's 1990 invasion of Kuwait said Thursday it had handed over a further $1.07 billion (810 million euros) to the emirate.

The payment, related to damage to oil facilities and resulting financial losses, brings to $42.3 billion the total sum handed out by the United Nations Compensation Commission (UNCC).

Some $10.1 billion awarded by the UNCC to a string of claimants still remains to be paid out.

In addition to Kuwait, more than 100 governments and international organisations have been allocated funds by the UNCC for distribution to 1.5 million successful claimants.

The UNCC was set up by the U.N. Security Council in 1991, the year that a U.S.-led coalition drove then Iraqi leader Saddam Hussein's forces out of Kuwait.

Its funds are drawn from a U.N.-mandated levy of five percent on Iraqi oil exports, whose continued existence has come in for criticism given that Saddam was ousted in 2003 in the U.S.-led invasion of Iraq.

 
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