Ban satisfied with Iraq's cooperation

Business Standard
Fri, Dec 20, 2013

UN Secretary-General Ban Ki-moon has expressed his satisfaction that Iraq continues to deposit a percentage of its oil revenues to the Compensation Fund, in accordance with relevant UN Security Council resolutions, to pay the victims of the 1990 Iraqi invasion of Kuwait.

"I would like to express my ongoing appreciation to the government of Iraq and the Iraq Committee of Financial Experts (COFE) for their continued cooperation with the Compensation Commission," Ban told the Security Council. "I am satisfied that the government of Iraq remains committed to complying with its obligations" under those resolutions, he added.

The Council decided in Resolution 687 of 1991 to create a fund to pay compensation for claims by governments, corporations or individuals who incurred direct losses, damage or injuries, as a result of the 1990 Iraqi invasion of Kuwait, and to establish a commission to administer the fund.

Ban also noted that the Commission remains on track to pay the outstanding balance in 2015.

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