GENEVA (Reuters) - The United Nations Gulf War compensation fund agreed on Thursday to defer Iraq's requirement to deposit five percent of its oil revenues for a year due to its budgetary difficulties, a senior U.N. official said.
Major powers on the fund's ruling body took the decision by consensus as Iraq's economy is being battered by both low oil prices and war with Islamic State militants.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
