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Cash-strapped Iraq Seeks Kuwait War Reparation Delay
Finance Minister Hoshiyar Zebari said Iraq is seeking to postpone a final $4.6 billion installment of reparations for its 1990-91 occupation of Kuwait as it faces a cash crisis caused by falling oil prices and war with Islamic State. Since Iraq was first allowed to resume oil sales nearly two decades ago it has paid funds into a United Nations body overseeing compensation for looting and damage inflicted during Saddam Hussein's seven-month occupation of Kuwait. More than a million claimants have been paid and nearly all the $52.4 billion reparations bill has been met through Iraq's annual allocation of 5 percent of crude oil exports to the U.N.
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