Geneva, Sept 19: The United Nations panel overseeing compensation to victims of Iraq's 1990 invasion of Kuwait has approved US$315 mn in the latest installment of claims for losses and damages, the world body said today. Most of that money US$224.9 million is to go to Kuwait, with much smaller amounts going to other countries, said Joe Sills, spokesman for the UN Compensation Commission. The claims approved by the 15-member panel at its three-day meeting this week bring to US$46.6 billion the total it has approved in claims from individuals, corporations and victims who suffered losses in the invasion. Payments, however, are running well behind the approvals.


The commission has been making payments from proceeds resulting from Iraqi oil sales. So far, it has handed over to governments and international organizations around US$17.8 billion to distribute to claimants.


Under the Security Council resolution that went into effect in May, the compensation fund is receiving only 5 percent of Iraqi oil sales, but UN officials said they expect an improvement in income as the Iraqi economy recovers.
Bureau Report