Exclusive: Cash-strapped Iraq seeks Kuwait war reparation delay

December 12, 2014 9:45 AM

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BAGHDAD (Reuters) - Iraq is seeking to postpone a final $4.6 billion installment of reparations for its 1990-91 occupation of Kuwait, Finance Minister Hoshiyar Zebari told Reuters, 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.

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