Tuesday 23 October 2012

Kuwait clears Gulf War Iraqi airline settlement | Reuters

Kuwait's government has given final approval to settlement with Iraq to end a standoff over Gulf-War-era debts and lift restrictions on Iraqi Airways flying to destinations in the West, Iraq's government said on Tuesday.

The airline row was part of a broader dispute over billions of dollars in reparations dating back to Iraqi leader Saddam Hussein's invasion of Kuwait in 1990-1991 when his forces seized aircraft and parts.

Iraq and Kuwait in March reached an agreement under which Iraq will pay Kuwait $300 million in cash and invest $200 million in a joint airline venture in return for Kuwait lifting legal actions against Iraqi Airways.

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