Kuwait targets Iraqi crude

Kuwait Airways is threatening to seize Iraqi assets when UN immunities are lifted in July, to recover $1.2B from Saddam-era theft.
Kuwait targets Iraqi crude
The Iraqi Airways and Kuwait Airways offices in Damascus, Oct. 1, 2000. (KHALED AL-HARIRI/Reuters)

Kuwait will attempt to seize Iraqi oil assets abroad when international legal protections end on June 30 – a move that could upset fragile diplomatic talks and create problems for any international oil companies (IOCs) that are paid in crude.According to its lawyer, Kuwait Airways will seek to enforce a 2006 English Supreme Court ruling against Iraqi Airways, for stealing $1.2 billion worth of equipment during the first Gulf War, including 10 commercial aircraft and spare parts.Iraq’...

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