Recent War Reparations
After the Gulf War, Iraq accepted United Nations Security Council resolution 687, which declared Iraq's financial liability for damage caused in its invasion of Kuwait. The United Nations Compensation Commission ("UNCC") was established, and US$350 billion in claims were filed by governments, corporations, and individuals. Funds for these payments were to come from a 30% share of Iraq's oil revenues from the oil for food program. It was not anticipated that US$350 billion would become available for total payment of all reparations claims, so several schedules of prioritization were created over the years. The UNCC says that its prioritization of claims by natural people, ahead of claims by governments and entities or corporations (legal persons), "marked a significant step in the evolution of international claims practice."
Payments under this reparations program continue; as of July 2010, the UNCC stated that it had actually distributed US$18.4 billion to claimants.
There have been attempts to codify reparations both in the Statutes of the International Criminal Court and the UN Basic Principles on the Right to a Remedy and Reparation for Victims.
Read more about this topic: War Reparations
Famous quotes containing the word war:
“Bernstein: “Girls delightful in Cuba stop. Could send you prose poems about scenery but don’t feel right spending your money stop. There is no war in Cuba. Signed Wheeler.” Any answer?
Charles Foster Kane: Yes—Dear Wheeler, You provide the prose poems, I’ll provide the war.”
—Orson Welles (1915–1985)