Kuwait says ready to begin negotiations with Iraq over $4.6bn Gulf War compensation

Kuwait has expressed its “desire and readiness” to start consultations with Iraq over the remaining reparations for the country’s 1990 invasion, estimated at $4.6bn.

Kuwait News Agency (KUNA) cited Khaled Al-Mudhaf, chairman of the Public Authority for Assessment of Compensation as saying the country was ready to discuss the issue through the UN Compensation Commission (UNCC).

Speaking at the UNCC’s 81st session, he said Kuwait was willing to provide technical support through the organisation to help close the issue.

The two previously agreed to postpone the payment of the remaining compensation until January 2018.

Read: Kuwait Says Accepts Iraq Request On Gulf War Reparations

The compensation covers direct losses and damage suffered by individuals, corporations, governments and internal organisations as a direct result of Iraq’s invasion under the leadership of former president Saddam Hussein, according to KUNA.

The Gulf War ended on March 2 1991 with the defeat of Iraqi forces by a US-led coalition.

During the conflict the invasion forces set fire to Kuwait’s oil fields and damaged other infrastructure.

There are concerns Iraq will be unable to meet the 2018 target with the country currently paying for an expensive military campaign against ISIL and low oil prices hitting government coffers.

In May, the International Monetary Fund agreed to give the country a three-year $5.4bn bailout.