On 24 January 2013, the United Nations Compensation Commission (UNCC) announced an award of US $1.3 billion for two claims relating to damages suffered during Iraq’s invasion of Kuwait. In a press release, the UNCC said that payments were linked to the “damages to Kuwait’s oil field assets (oil wells, pipelines and related equipment) and associated production and sales losses.”
The Commission has to date awarded reparations to over 100 governments and organisations and still has close to US $12.3 billion to payout. The Governing Council of UNCC recognizes six categories of claims of which four are for individuals, one for corporations and another for governments and international organizations. After this award, the total amount of compensation paid out by the Geneva based UNCC stands at US $40.1 billion for 1.5 million successful claimants in all claim categories.
In its previous decision last October, the Commission had awarded US $1.09 billion to the Government of the State of Kuwait.
The UNCC was setup by the United Nations Security Council in 1991 to settle the claims of losses suffered due to Iraq’s 1990 invasion of Kuwait. The Commission draws it resources from a 5 percent tax on the exports of Iraqi petroleum and petroleum products.