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Security Council Permanent Members Reach Deal on Iraq Compensation
The permanent members of the United Nations Security Council on Wednesday reached an agreement to lower the percentage of oil revenues Iraq must pay toa U.N. Gulf War compensation fund.
In accordance with relevant U.N. resolutions, Iraq has to pay 30 percent of its oil revenues to a compensation fund for Gulf War damages.
The five permanent members, namely China, Russia, France, Britain and the United States, agreed to lower this to 25 percent in early December before the next phase of the "oil-for-food" program begins.
With the lowered percentage, Iraq will have more money to buy food, medicine and other humanitarian goods for its people who are suffering from the stringent U.N. sanctions imposed on the country in 1990.
Speaking to the press, French ambassador to the United Nations Jean-David Levitte said the 10 non-permanent members were expected to be briefed soon on this compromise so as to seek the consensus of the full Security Council.
Although the agreement was reached among the five permanent members, there were no negative comments from the non-permanent members of the council till now, he said.
It was time to make some changes in the procedures, the ambassador added.
According to U.N. diplomats, the five permanent members also approved today Kuwait's 15.9 billion U.S. dollars claim against Iraq.
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