UN panel pays $600M to Kuwait oil firm for Iraq invasion three decades ago

A United Nations panel paid US $600 million to Kuwait’s national oil and gas company, as part of the $14.7 billion claim the company was awarded in 2000 for oil production and sales losses, due to the invasion of Iraq in 1990-91.

According to the Associated Press, the U.N. Compensation Commission said it has paid $51.3 billion, since they have approved 1.5 million claims, by governments and organizations, all due to the invasion.

The Kuwait Petroleum Corporation is the only remaining claimant. The company expects to receive another $1.1 billion, to be paid within a year.