related article ..**UN, May 1-3 ~ Iraq including representatives from Iraq’s Committee of Financial Experts, Jordan, Kuwait and Saudi Arabia will address the Council
Snip from below .. 'The business session of 73 of the United Nations Compensation will continue until the third month, which is a subcommittee of the UN Security Council in accordance with Council resolutions Security numbers 687 and 692 for the year 1991 to process claims and pay compensation for direct losses and damage caused to individuals, corporations, governments and international organizations as a direct result of Iraq's invasion and illegal occupation of Kuwait"
05/01/2012
Kuwait stresses in front of the Compensation Commission for Iraq to continue to deposit 5 per cent of its oil revenues
Baghdad, The President of the Board of Directors of the Public Authority for Assessment of Compensation for the loss of Iraqi aggression Khaled Ahmed Mudhaf today on the need to continue the regular filing in the Compensation Fund to five percent of the proceeds from the sale of all exports of oil and petroleum products and natural gas to Iraq.
According to the agency KUNA said Mudhaf in the word of Kuwait in the opening session of 73 of the United Nations Compensation to deposit regular come and according to the UN Security Council Resolution 1956 to the year 2010 in addition to the rate of five percent of the value of any payments of non-cash oil and petroleum products and natural gas.
He Mudhaf thanked Kuwait The Board of Directors and the Secretariat of the Committee on the distribution of compensation payments to Kuwait in each of the seventh of October 2011 and January 26and April 26, 2012, in accordance with decision 267, also expressed the aspiration of Kuwait to continue to receive the full amount remaining Qmath about $ 16 billion in batches future quarterly.
Praised Mudhaf in this regard Iraq to keep the transmission mechanism that have been created in the past under the supervision of the Committee of Financial Experts, stressing that this will ensure the continuation of Iraq to fulfill its obligations in accordance with the provisions of paragraph 21 of resolution 1483 (2003) also welcomed the meeting of the United Nations Compensation with the Commission financial experts on a regular basis.
Called Mudhaf the need to consider the proposal to Kuwait to hold another meeting for further consultations on the meeting in Kuwait and Iraq under the auspices of the United Nations Compensation to discuss the remaining funds and payable to Kuwait as it has not been any progress in this regard since the first meeting in May 2009 in the Jordanian capital Amman.
At the same time new Mudhaf Kuwait's commitment and willingness to discuss the issue of compensation amounts remaining due to them through this mechanism and under the auspices of the United Nations Compensation Commission, pointing out that Kuwait is waiting for notification of a positive from the Government of Iraq in this regard, noting that the insurance payment complete the remaining amounts owed to Kuwait is in fact the responsibility of the Board of Directors in accordance with its core functions and this should not be to the Committee of the United Nations Compensation that reduces the efforts to be paid the full amount.
He Mudhaf that the functions of the Board of Directors also includes tasks related to follow-up program environmental awards approved, which was established under decision 258 as it stands out in this regard, several issues, especially with regard to the fact that Kuwait Status of regulations and controls set by the scheduled 269.
The business session of 73 of the United Nations Compensation will continue until the third month, which is a subcommittee of the UN Security Council in accordance with Council resolutions Security numbers 687 and 692 for the year 1991 to process claims and pay compensation for direct losses and damage caused to individuals, corporations, governments and international organizations as a direct result of Iraq's invasion and illegal occupation of Kuwait.
And chair of that session the representative of Germany's Permanent Representative to the UN in Geneva, Ambassador Heinrich Schumacher and the participation of delegations from Iraq, including representatives of the Iraqi Committee in addition to financial experts, Jordan and Saudi Arabia.
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