The UN Compensation Commission (UNCC) on Tuesday said it had paid Kuwait $380 million as an Iraqi payment of the total amount owed by Baghdad due to its invasion of Kuwait in 1990.
The payment was deducted from the revenues from the sale of Iraqi oil and brings Baghdad's total payment to $50.7 billion, according to the UNCC.
The UN Gulf War reparations body stated that an amount of $ 1.7 billion remains due on Iraq as part of demands made by the Kuwait Petroleum Corporation for losses resulting from the invasion.
In 1991, the UN obliged Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations, and others who incurred losses resulting from the Iraqi invasion of Kuwait.
