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Kuwait asks UN for time to revise Iraqi Gulf War compensations suggestions
October 3, 2017, 5:23 pm

Kuwait on Tuesday requested a grace period from the United Nations Compensation Commission tasked with Iraq's dues, after its occupation of Kuwait, to evaluate payment options for a remaining US$ 4.6 billion.

Baghdad, in August, asked Kuwait to consider receiving the amount through four options, the UNCC head and Kuwaiti representative Khaled Al-Mudhaf told the commission's 83rd session.

These include the sale of natural gas at an "agreed price" between the two countries, negotiating the decrease of Iraqi oil and derivative imports, lessening the dues according to the Paris Club sustainable solutions or transforming the amount to a bilateral debt.

Kuwait is committed to reaching an agreement with the Iraqi government, while taking into account an agreed extension of a deadline for the handover until 2018, added Al-Mudhaf.

Source: KUNA

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