UN Security Council ends the Compensation Commission’s mandate over Iraq’s reparations to Kuwait

The UN Security Council unanimously passed a resolution formally ending the mandate of the UN Commission on Compensation for Damage Resulting from Iraq’s invasion of Kuwait in 1990 after Baghdad paid the full $52.4 billion it owed to Kuwait.
The resolution stated that the Security Council decides to terminate the commission’s mandate and considers it “accomplished.”
The resolution added that the Security Council “confirms that the Iraqi government is no longer required to pay to the fund” administered by the committee “a percentage of the proceeds from its export sales of oil, petroleum products and natural gas.”
According to the resolution drafted by the United Kingdom, the Security Council “confirms that the process of submitting claims to the Committee has now and finally been completed, and that no further claims will be submitted to the Committee.”
The Iraqi Foreign Ministry welcomed the resolution before the Security Council, stressing that “Iraq today is turning an important page in its history that lasted more than thirty years.”