A U.S. soldier stands night guard as oil wells burn in the distance in Kuwait, just south of the Iraqi border February 26, 1991. REUTERS/Andy Clark
GENEVA (Reuters) - A United Nations body agreed on Thursday to let Iraq postpone its final payment of reparations to Kuwait for the 1990-91 Gulf War, in an effort to help ease Baghdad's cash-strapped budget.
The consensus decision, reached by major powers at the U.N. Compensation Commission (UNCC), means Iraq will have until Jan. 2016 to begin paying its oil-rich neighbour $4.6 billion (2.93 billion pounds) for oil fields destroyed during its invasion and seven-month occupation.
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