Thursday, January 24, 2013 4:40 am
UN Kuwait invasion fund pays out $1.3 billion
The Associated Press
The U.N. Compensation Commission did not disclose the identities of the claimants on Thursday but said the money goes toward settling two claims for damages to Kuwait's oil fields, as well as production and sales losses.
The Geneva-based commission was established by the U.N. Security Council in 1991 and is funded by a 5 percent tax on the export of Iraqi oil.
It has approved $52.4 billion in total compensation to more than 100 governments and international organizations, and makes payments every three months.