$1.2 billion has been paid by Iraq to Kuwait

1.2 billion US dollars have been handed over by the UN Compensations Committee to Kuwaiti government in part of the compensations of Iraqi invasion of 1990.
In a press statement, a copy of which received by the local news agencies, it has been revealed that the committee has handed 43.5 billion dollars till now as the parts of compensations.
It has been also reported that the remaining amount is around 8.9 billion USD, which will be paid by the Iraqi government in the later stages. Iraq pays 5% of its oil revenues to Kuwaiti compensation fund, as stipulated by UN.