(Kuwait) More than 30 years after the Iraqi invasion, Kuwait continues to receive war reparations from Baghdad, which recently paid it US $ 490 million, the Iraqi embassy in the small Gulf country said.
“Iraq paid $ 490 million to Kuwait on October 26 and will work towards paying war reparations for the year 2022, or about $ 629 million,” the embassy said in a statement on Monday.
On August 2, 1990, Saddam Hussein’s Iraqi army swept over the emirate of Kuwait and annexed this small oil-rich territory, before being driven out seven months later by an international coalition led by the United States.
In 2018, Baghdad resumed payments to Kuwait by releasing $ 90 million, a first since 2014, when reparations were suspended due to the security crisis in Iraq, linked to the presence of the jihadist group Islamic State.
Over the past 30 years, Iraq has paid Kuwait $ 50 billion in war reparations. But, in financial difficulty due to the pandemic and falling oil prices, Baghdad asked for a delay to pay the remaining $ 3.8 billion.
The funds, validated by the United Nations Compensation Commission established in 1991, come from a tax levied on sales of oil and petroleum products from Iraq.
Compensation is distributed to individuals, corporations, government organizations and other organizations that have suffered losses directly caused by the Iraqi invasion and occupation.