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CORRECTED-Iraq requests one-year deferral on Gulf War reparations
December 17, 2014 / 11:42 AM / 3 years ago

CORRECTED-Iraq requests one-year deferral on Gulf War reparations

(Corrects bullet point to $4.6 billion)

* Iraq seeks delay in paying $4.6 billion claim to Kuwait

* Cash crisis and war with Islamic State drain Iraqi coffers

* U.N. reparations body to consider request on Thursday

By Stephanie Nebehay

GENEVA, Dec 17 (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)

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