Iraq requests one-year deferral on Gulf War reparations

Reuters News
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Posted: Dec 17, 2014 6:51 AM

By Stephanie Nebehay

GENEVA (Reuters) - Iraq, reeling from low oil prices and war with Islamic State, has requested a one-year deferral of a $4.6 billion reparations payment for destroying Kuwait's oil facilities during its 1990-91 occupation, a U.N. official said on Wednesday.

Kuwait and major powers on the ruling body of the U.N. Compensation Commission will consider the formal request at a special session in Geneva on Thursday.

"We have a request for a one-year suspension of the requirement to deposit 5 percent of Iraqi oil revenues into the compensation fund," the official told Reuters.

(Reporting by Stephanie Nebehay Editing by Jeremy Gaunt)