Iraq will have to pay war reparations totalling US $25.5 billion to Kuwait by putting 5% of its oil revenues into a special fund created by the UN Security Council, according to Kuna, the Kuwaiti news agency.
The compensation is for the 1990 occupation of Kuwait by Saddam Hussein’s forces that initiated the first Gulf War.
The head of Kuwait’s Public Authority for Compensation Khaled al-Mudhaf was quoted by Kuna as saying that money has yet to be paid. Iraq has frequently called for the billions of dollars of reparations to be waived since the overthrow of Saddam Hussein in 2003.Â
