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Iraq pays 5% of Kuwait's oil imports

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1 Iraq pays 5% of Kuwait's oil imports on Sun Nov 26, 2017 4:19 pm

Rocky


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Iraq pays 5% of Kuwait's oil imports


Baghdad - Agencies
"Iraq will resume its payments to Kuwait in early 2018 as compensation for war damage in 1990," the news agency quoted AFP as saying.
"During the visit last Monday by President Fuad Masum to Kuwait, the two sides agreed that Iraq would pay 5 percent of the oil sales to Kuwait, and agreed on the demarcation of the border."
"The payments to Kuwait are financed by a five percent tax imposed by the Security Council on Iraqi oil exports," the AFP news agency said.
With the widespread attack on the 2014 Al-Qaeda organization and the ensuing chaos, Iraq suspended the payments owed to Kuwait in October of the same year.
The remaining $ 4.6 billion will be repaid between the beginning of 2018 and the end of 2021, the last of the $ 52.4 billion reparations Iraq has to pay to some 100 governments and international organizations. Of the United Nations.
The army was invaded by Saddam Hussein's regime from August 1990 to February 1991, before being ousted by a US-led international coalition.
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