BAGHDAD, June 30 (UPI) -- Oil revenue generated in Iraq is subject to potential seizure because a protective measure against damages from the Gulf War expired, a lawyer said.
The U.N. Security Council in December voted to let protection for oil revenue deposited in a development fund for Iraq, established in 2003, to expire. Iraq is paying Kuwait about 5 percent of its oil revenue as compensation for damages incurred during the first Gulf War and for the theft by the regime of Saddam Hussein of 10 Kuwaiti aircraft.