UN approves $2.2bn compensation for Kuwait

The UN panel that oversees compensation for Iraq's invasion of Kuwait has approved payments of nearly $2

The UN panel that oversees compensation for Iraq's invasion of Kuwait has approved payments of nearly $2.2 billion for the Kuwaiti government.

Kuwaiti corporations have been awarded just over $142 million, while the rest of the $2.4 billion compensation will be given to foreign firms.

Iraq claimed last year it deserved more opportunity to contest the awards but UN commission members have failed to agree on a program to offer Iraq help in dealing with the body.

"They could not decide how such help should be funded," said UN commission secretariat chief Mr Mojtaba Kazazi.

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The compensation fund gets its money from the UN oil-for-food program. This lets Iraq skirt sanctions and earn billions through unlimited oil sales, as long as the bulk of the money goes to buy humanitarian goods for its civilians.

The commission has received around 2.6 million compensation demands for over $300 billion from individuals, governments and corporations seeking to offset loss and damage caused by the invasion of Kuwait in 1990. Around $32 billion has so far been awarded.

PA