(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Oct 3 (KUNA) -- Kuwait hoped Tuesday it would reach a common understanding with Baghdad over options to pay USD 4.6 billion, the last payment of compensations of damage caused by Iraq's 1990 invasion and occupation of Kuwait.
The Geneva-based UN Compensation Commission (UNCC) approved request by Kuwait and Iraq to extend compensation payment negotiations for two months, to allow both countries reach an agreement over payment options, Al-Jarallah told reporters while attending a reception held by the German Embassy marking the country's national day.
Al-Jarallah said the approval was a "positive" sign, "and we are confident we will reach a common understanding with the Iraqis regarding the possible payment options." The options are the sale of natural gas at an "agreed price" between the two countries, negotiating the decrease of Iraqi oil and derivative imports, lessening the dues according to the Paris Club sustainable solutions or transforming the amount to a bilateral debt.
However, said Al-Jarallah, the natural gas sale option was "the most preferable". (end) ns.bs
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.