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Kuwait gets $1.06bn in Iraqi reparation: UN
GENEVA : The United Nations released $1.06 billion in Iraqi compensation to Kuwait on Thursday in the latest payment o
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GENEVA: The United Nations released $1.06 billion in Iraqi compensation to Kuwait on Thursday in the latest payment of a war reparation scheme that began in 1994.
The payment brings the total sum of compensation paid to Kuwait to $33.3 billion. A further $19 billion is due.
Most of the latest round went to state and private companies, and governments and international organisations, the UN Compensation Commission said in a statement.
Following the 1991 invasion of Kuwait by Saddam Hussein's regime, Iraq is required to put five percent of its oil and gas revenues into the UN reparations fund.
Copyright AFP (Agence France-Presse), 2011
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