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U.N. OKs Almost $3 Billion to Kuwait, Saudis for Gulf War Compensation

Friday, 10 December 2004 12:00 AM

The panel now has approved claims worth a total of $51.8 billion. Money to pay the claims comes from Iraqi oil sales.

Those payments, however, are running well behind the claim approvals. The overall amount released for individuals, companies and governments is now $18.8 billion, the UNCC said.

The panel currently is paying out about $200 million every three months, with individuals receiving priority. The next payment is scheduled for mid-January.

It is expected to take years to pay all the claims, with big oil companies having to wait until the end.

All claims are expected to be decided by June 2005, when the panel will close down. All individuals should receive their money by 2007, UNCC spokesman Joe Sills said.

The panel consists of the 15 permanent U.N. Security Council members. The council decided last year that the claims would be funded by 5 percent of Iraqi oil sales.

Until the U.S.-led invasion of Iraq that toppled Saddam Hussein last year, the commission received 25 percent of the proceeds from the U.N. oil-for-food program, which - in an exception to international sanctions - allowed the former Iraqi regime to sell oil and buy food, medicine and other humanitarian goods.

The oil-for-food program has been plagued by allegations of corruption.

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The panel now has approved claims worth a total of $51.8 billion. Money to pay the claims comes from Iraqi oil sales. Those payments, however, are running well behind the claim approvals. The overall amount released for individuals, companies and governments is now $18.8...
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Friday, 10 December 2004 12:00 AM
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