7 April 2011
PRESS RELEASE GOVERNING COUNCIL OF UNITED NATIONS COMPENSATION COMMISSION CONCLUDES ITS SEVENTY-FIRST SESSION
At present, $21 billion remains owing to Kuwait for distribution to nine successful claimants.
Claims are paid with funds drawn from the United Nations Compensation Fund, which currently receives 5 per cent of the proceeds generated by the export sales of Iraqi petroleum and petroleum products in accordance with Security Council resolution 1483 (2003)and affirmed in subsequentresolutions, most recently in Security Council resolution 1956 (2010).
The Council encouraged the Governments of Iraq and Kuwait to resume their consultations under the auspices of the UNCC, as soon as possible, on this outstanding balance.
The Council decided to hold its next regular session from 11-13 October 2011.
Further information about the Commission, including the text of Governing Council decisions,can be found on the United Nations Compensation Commission website located at www.uncc.ch.
http://www.uncc.ch/pressrel/71%20close.pdf
