Iraq pays $490M in war reparations to Kuwait

Iraq announced Monday that it recently paid US$490 million in war reparations to Kuwait.

“Iraq paid $490 million in compensation last Tuesday from the amount determined by the UN over the ousted regime’s invasion of Kuwait in the early 1990s,” the Iraqi embassy in Kuwait said in a statement.

“Iraq will work to pay the remaining amount of the compensation [$629 million] at the beginning of 2022,” the statement added.

In 1991, the UN obliged Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting from the Iraqi invasion of Kuwait.

Iraq halted paying compensation in 2014 due to the war against Daesh/ISIS, which controlled a third of the country, but resumed payments in 2018.

*Writing by Bassel Barakat in Ankara